would someone buying u out work? for whatever the bank would accept to get out of the contracts?

Sounds like your best bet would be to contact the mortgage company and ask them if they will allow you to do a short sale. This can only be approved by the mortgage company and/or it's investors. This will still effect your credit is some ways, but it is better than a foreclosure, or deed in lieu.

What this will do is the bank may be willing to take less for the property than what you owe. The bank will write off the rest. Not all bank and/or it's investors will do short sales.

The bank will require you to list the property with a real estate agent. They want to make sure you are really trying to sell the property.

Have you defaulted on the loan would be my next question? If so have you received a notice of default?

The next thing I would consider is to consult with an attorney concerning the contract you had with the investment firm. That way you will know what options you have available.

You may want to contact a credit counselor(or a couple) but I believe a deed in leiu only shows up as late payments and settled after deed conveys where a complete foreclosure could remain as an unsettled debt, like bankruptcy. That was the discussion at a recent class I was in. I haven't actually had a deal like this but have worked short sales.

i'm not an attorney, but i work with foreclosures a lot. basically, you're going to destroy your credit with any of those options. can't really say that one is better than the other.

You need a lawyer. I'm not a lawyer, so what follows is not legal advice.

And sorry: You need to provide more details. For example, what arrangement do you have through the "investment company" in which they're supposed to pay the mortgages?

For instance, if they're management companies, read the contract. They'd likely be in default, so you would regain control, per the contract. Then--I'd guess they're collecting rents which they're supposed to be using to pay the mortgages--you'd receive the rent and pay the mortgage.

On the other hand, if you sold the properties "subject to" the existing mortgage, with the investment company promising to pay the mortgage, then you no longer own the properties and there'd be no way to take them back (unless the owners were willing to deed them back to you).

You say "it looks like the bank is going to go bankrupt." What bank? The one who holds the mortgages? If so, that really doesn't matter if the bank is FDIC insured...and maybe even if it isn't. Someone else will purchase the bank, or its assets will be liquidated. You'll still be paying your mortgage to someone. And the deed wouldn't be affected in any case.

You might be able to do a deed in lieu of foreclosure if the lender permits it. Some do. Many do not.

Your credit would be negatively affected by a deed in lieu of foreclosure, short sale, or foreclosure.

Please provide more details, or e-mail me directly.