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Unwanted property

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N

NIIGHT

Guest
What is the name of your state?Tennessee

I have a property that is in my name with my father as the cosigner. The property is not in use and has been put up for sale
for quite some time now. Niegther my father nor myself need the property. There is still a mortgage on the property that I can no longer afford and I dont want to rent it out. My father can not afforde another mortgage at this time either.

Is there away that I can give the property back to the motgage company without a Foreclosure?
What other opptions are there, other than the property being rented out?
 


HomeGuru

Senior Member
NIIGHT said:
What is the name of your state?Tennessee

I have a property that is in my name with my father as the cosigner. The property is not in use and has been put up for sale
for quite some time now. Niegther my father nor myself need the property. There is still a mortgage on the property that I can no longer afford and I dont want to rent it out. My father can not afforde another mortgage at this time either.

Is there away that I can give the property back to the motgage company without a Foreclosure?
What other opptions are there, other than the property being rented out?

**A: sell the property or offer the proerty to the lender via a deed-in-lieu of foreclosure.
 

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