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Loan Mdification was denied, should I try for a Deed in Lieu of Foreclosure?
January 03, 2008
We inquired about a loan modification and was denied. We had a contingency offer on our home, so we applied for a short sale. The contract fell through and we've not heard whether or not the short sale was accepted or denied. In the meantime, we're looking into a Deed in Lieu of Foreclosure which is our purpose for contacting you.
Comments
I have 12 rental properties in Detroit Michigan. With all the nonpaying renters and vandalism that are happening things are getting tight. My mortgage companies are washington mutual, asc, and citimortgage. I would like to do a deed in lieu of foreclosure. How possible is this? I also have a 680 credit score. How low would it go if this happens?