deed in leiu of?

Posted by lori on February 26, 2007 at 13:50:29:

We have had out home on the market for 3 months, 45 showings and 3 broken offers later still on market. We are now 2 months behind and cant get caught up. We have 50,000 in equity.

If we do a deed in leiu of what will happen?
They just take the house back and we dont owe them anymore?
What about credit?
And does all of our equity go away?

Follow Ups:

I may be able to help - Doug Brotherton 14:59:46 02/28/07 (2)
- Get Financial Help Here!!!! Loan Offer At Low Rates!!!! - Elly Financial Home 00:21:44 09/25/07 (0)
Re: deed in lieu of foreclosure? - NJD 14:55:52 02/26/07 (2)
- brain freeze - NJD 14:59:14 02/26/07 (1)
  - Re: brain freeze - lori 15:04:22 02/26/07 (0)
Re: deed in leiu of? - steele in minnesota 14:18:18 02/26/07 (0)

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