Deed in lieu of foreclosure?

[LawInfoNeeded]

What is the name of your state (only U.S. law)? NC

The house I purchased two years ago is falling apart around me, I don't have the money to fix it AHS says the problems are all from pre-existing conditions and won't cover it. I'm behind on my mortgage by two months already (had to buy a new water heater and other immediate problems), and I've recently run into medical issues that will only put me further behind.

Instead of letting it go into foreclosure I was going to discuss getting a deed in lieu of foreclosure, but with today's housing situation do you think the mortgage company would even consider this? Also, would it help or hurt my situation with them to tell them of all the problems with the house (needing approx $10,000 in repairs and work)?

Thanks in advance for any information!

[HomeGuru]

Originally Posted by LawInfoNeeded

What is the name of your state (only U.S. law)? NC

The house I purchased two years ago is falling apart around me, I don't have the money to fix it AHS says the problems are all from pre-existing conditions and won't cover it. I'm behind on my mortgage by two months already (had to buy a new water heater and other immediate problems), and I've recently run into medical issues that will only put me further behind.

Instead of letting it go into foreclosure I was going to discuss getting a deed in lieu of foreclosure, but with today's housing situation do you think the mortgage company would even consider this? Also, would it help or hurt my situation with them to tell them of all the problems with the house (needing approx $10,000 in repairs and work)?

Thanks in advance for any information!

**A: go ahead and make the offer and do tell them of the problems.