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I need som options to foreclosure
A friend owns a home and she owes much more than it is worth. She is, and has always been, current on the mortgage, but now she is getting divorced and cannot afford to pay the difference between the rent she receives and the actual payment. It is currently tenant occupied and in good condition.--This property is in Adelanto, California.( an area suffering terribly now )-- I would like her to be able to get the lender to accept a deed in lieu of foreclose now. A short sale is useless on this property as she can't afford to keep making the payments through this process and I know it would be a waste of time on this home in this town. Also, she has no intention of keeping this home. Her husband wanted to buy it as an investment, but since her credit was better, he had her put the loan and the home in her name alone. The lender would be in much better shape to accept this option, but can you get it done?
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BEWARE OF SAXON MORTGAGE!!!!!