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Re: deed in leiu of?

Posted by steele in minnesota on February 26, 2007 at 14:18:18:

In Reply to: deed in leiu of? posted by lori on February 26, 2007 at 13:50:29:

In a deed in lieu situation you give the house back instead of being foreclosed upon. Any equity you have is gone. While better than a foreclosure it still does have a negative impact on your credit. Just not as bad.

If you truly have some equity you should continue to try and sell it to get what you can. May need to consider some price reducing.

What state are you in?

Steele V. Propp
Foreclosure Specialist
Schatz Group GMAC Real Estate
Minneapolis, MN
steelep@aol.com
www.MinnesotaForeclosureNetwork.com

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