Ron Thomas,
Agent, Fresno, CA
You are probably referring to "Deed-in-Lieu";
whereby you agree with the Lender to hand over the Deed in exchange for a quick and painless transfer: In this case, you could ask for a letter from the Lender stating that they will not pursue a Deficiency Judgement.
This would also be lighter on your Credit Score.
whereby you agree with the Lender to hand over the Deed in exchange for a quick and painless transfer: In this case, you could ask for a letter from the Lender stating that they will not pursue a Deficiency Judgement.
This would also be lighter on your Credit Score.
James Gordon ABR PBD SFR SRS,
Agent, Cincinnati, OH
Hey why do some of the properties that you have claimed seem to be listed by other brokerages? These are just the first couple I clicked on.
46 Gables Boulevard, Fort Lauderdale FL 33326
http://www.exite-listings.com/86874
21 Isla Bahia Drive, Fort Lauderdale FL 33316
http://listings.realbird.com/S3Q9B3O3/152203.aspx
Do you really have 95 listings?
46 Gables Boulevard, Fort Lauderdale FL 33326
http://www.exite-listings.com/86874
21 Isla Bahia Drive, Fort Lauderdale FL 33316
http://listings.realbird.com/S3Q9B3O3/152203.aspx
Do you really have 95 listings?
London Realty Corp.,
Managing Broker, Pembroke Pines, FL
Close, but no cigar! It is similar to a deed in lieu. It is a negotiated settlement between a property owner and lender. It is possible to do this with far less hassle than a deed in lieu. I know this from first hand experience, having negotiated that exact settlement with a forgiveness of deficiency on TWO of my investment properties purchased during the boom! Do not attempt this with legal council.
Jim Simms,
Mortgage Broker or Lender, Louisville, KY
I agree with Ron, if that is what it is we treat it the same as a foreclosure, a three year timeline before eligible on an FHA mortgage.
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://www.facebook.com/JimLends
