Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Buying & Selling a Home
Reload this Page selling property that will go to foreclosuer in 90 days

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 06-05-2001, 11:30 PM
Raquel
Guest
  
Posts: n/a
Question
illinois - i am currently trying to sell and have a buyer that was approved for 157000 and i have not been able to pay the mortgage since nov. 2000, in dec. the mortgage bal was 134000 and today the lender is trying to get 149500 that would leave a bal of 8500 and the property need to be rehab for 4500 and the attorneys fees and the realtors fees and the lien on the property is way over the amount that was being included from the amt of the loan. i asked the leander for a short payoff and they said no to my proposal. is there something could do to get them to assist in getting there money paid to them before i am force a foreclousre or to file bankrutcy.
  #2  
Old 06-06-2001, 01:42 AM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
If the lender will not agree to a short sale then give the property to the lender via a deed-in-lieu of foreclosure.
  #3  
Old 06-07-2001, 12:52 AM
Raquel
Guest
  
Posts: n/a
Question

clarity

illinois -
what exactly does "via deed-in-lieu of foreclosure" mean?
does still affect my credit or the credit of any that might be on the title. i mean when you do this! does it still come up as bad credit reporting is listed as a foreclosure or what? please help me understand what this mean.
  #4  
Old 06-08-2001, 03:54 AM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Do a search on this website using those search words.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 07:21 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.