You can go after the bank and stop any danger of foreclosure. If you send me a synopsis of your loan documents I can tell you how to go after the bank to cut or eliminate your mortgage. If the bank has sent you any legal documents, please send them to me. Dont lose your house or credit. FIGHT BACK. The banks had their bailout. It is time to have yours. Call me at 321-549-1052 or email me at : email@example.com and I will counsel you in the best course of action.
Luis S... more
I see that there are some really informed people eager to answer to your question online. Even so, call an attorney and make an appointment to get qualified legal advice that pertains to you or your client's exact situation. It will be well worth the $250 or so and you may learn that you have other options that will be more advantageous than a deed-in-lieu.
May I ask, why not attempt a negotiated settlement, aka: short-sale?
I'm assuming that you did an owner carry in which you, as the owner, carried the financing. You will defiinately need a local real estate attorney. There are some careful steps that need to be followed in order to foreclose. Go to http://www.azbar.org/ and select "find a lawyer" in the upper right hand corner of the webpage. If your buyers are in the country, I'm sure they will be found.
Good luck!... more