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peterb
ParticipantYou may want to look into offering them the “Deed in lieu”. They get the property back asap and they’ve accepted it in exchange for the debt owed. I dont know the details nor have I done it myself. But I’ve heard it mentioned before.
At the rate lenders are foreclosing on property, the process seems to be taking them a lot longer than the “normal” amount of time. So you could end up living at your residence rent/mortgage free for quite a while if you choose to go the foreclosure route. You get about a two weeks warning before being evicted by the authorities. So have a plan ready at that point.
But again, look into what it takes to get off the hook for the tax implications as well.ParticipantYou may want to look into offering them the “Deed in lieu”. They get the property back asap and they’ve accepted it in exchange for the debt owed. I dont know the details nor have I done it myself. But I’ve heard it mentioned before.
At the rate lenders are foreclosing on property, the process seems to be taking them a lot longer than the “normal” amount of time. So you could end up living at your residence rent/mortgage free for quite a while if you choose to go the foreclosure route. You get about a two weeks warning before being evicted by the authorities. So have a plan ready at that point.
But again, look into what it takes to get off the hook for the tax implications as well.ParticipantYou may want to look into offering them the “Deed in lieu”. They get the property back asap and they’ve accepted it in exchange for the debt owed. I dont know the details nor have I done it myself. But I’ve heard it mentioned before.
At the rate lenders are foreclosing on property, the process seems to be taking them a lot longer than the “normal” amount of time. So you could end up living at your residence rent/mortgage free for quite a while if you choose to go the foreclosure route. You get about a two weeks warning before being evicted by the authorities. So have a plan ready at that point.
But again, look into what it takes to get off the hook for the tax implications as well.ParticipantYou may want to look into offering them the “Deed in lieu”. They get the property back asap and they’ve accepted it in exchange for the debt owed. I dont know the details nor have I done it myself. But I’ve heard it mentioned before.
At the rate lenders are foreclosing on property, the process seems to be taking them a lot longer than the “normal” amount of time. So you could end up living at your residence rent/mortgage free for quite a while if you choose to go the foreclosure route. You get about a two weeks warning before being evicted by the authorities. So have a plan ready at that point.
But again, look into what it takes to get off the hook for the tax implications as well.ParticipantIt probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.
ParticipantIt probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.
ParticipantIt probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.
ParticipantIt probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.
ParticipantIt probably is a glitch, but I have noticed that many homes that are going to auction have no notice on the property that would indicate this. Check out REDC’s website as they look to be one of the biggest real estate auctioneers in SoCal. Also check Bruce Norris’s web site as he is focused very sharply on the REO market and updates pretty regularly on the various shinanigans that lenders, real estate brokers and auctioneers are pulling. This is new ground for just about everyone and it’s showing.
ParticipantCheck out http://www.youwalkaway.com
If this is your residence…i.e..your owner occupied home, the govt has given you real incentive to walk away if you do it in the specified time frame. No taxes on the amount that you owed and did not pay. And, if it was a purchase loan, odds are good that it’s a non-recourse loan as well. So the lender cant go after any of your other assests. Waiting may hurt you as the time frame for the govt not taxing you may run out at the end of this calendar year.
ParticipantCheck out http://www.youwalkaway.com
If this is your residence…i.e..your owner occupied home, the govt has given you real incentive to walk away if you do it in the specified time frame. No taxes on the amount that you owed and did not pay. And, if it was a purchase loan, odds are good that it’s a non-recourse loan as well. So the lender cant go after any of your other assests. Waiting may hurt you as the time frame for the govt not taxing you may run out at the end of this calendar year.
ParticipantCheck out http://www.youwalkaway.com
If this is your residence…i.e..your owner occupied home, the govt has given you real incentive to walk away if you do it in the specified time frame. No taxes on the amount that you owed and did not pay. And, if it was a purchase loan, odds are good that it’s a non-recourse loan as well. So the lender cant go after any of your other assests. Waiting may hurt you as the time frame for the govt not taxing you may run out at the end of this calendar year.
ParticipantCheck out http://www.youwalkaway.com
If this is your residence…i.e..your owner occupied home, the govt has given you real incentive to walk away if you do it in the specified time frame. No taxes on the amount that you owed and did not pay. And, if it was a purchase loan, odds are good that it’s a non-recourse loan as well. So the lender cant go after any of your other assests. Waiting may hurt you as the time frame for the govt not taxing you may run out at the end of this calendar year.
ParticipantCheck out http://www.youwalkaway.com
If this is your residence…i.e..your owner occupied home, the govt has given you real incentive to walk away if you do it in the specified time frame. No taxes on the amount that you owed and did not pay. And, if it was a purchase loan, odds are good that it’s a non-recourse loan as well. So the lender cant go after any of your other assests. Waiting may hurt you as the time frame for the govt not taxing you may run out at the end of this calendar year.
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