What are the ramifications of a deed-in-lieu of foreclosure

i'm currently finalizing a divorce. i've been trying to keep the house but with increasing property taxes, numerous household maintainence issues and little-to-no child support, i've decided that i just can't keep up with mortgage and living expenses. i have recently moved back in with my parents in an attempt to fix up the house to sell but find that it is simply beyond my means. how much would it cost to even file for a deed in lieu of foreclosure?

I have a home that i love,but cant afford. after my divorce i was scared of my x husband so much even though i got the house in final decree, i refinanced with an arm. two years later flagstar accepted my new mortgage, but insisted on adding taxes and insurance to note..increased payment to 1550 from 1233. I must have paid 8,000 already in closing. Then i got a letter stating that my note was being increased to 1750.00 to cover a "cushion" for the escrow. A realtor convinced me to rent out my house and buy a cheaper one. he even found a renter...i bought a home 40,000.00 less, but then the renters backed out. no i am not going to pursue litagaton on renter..I have been trying to sell house since jan. i am trying to short sell now..i paid national short sale to help me. yes and i fired my old realtor. no offers. do you think they would accept a deed in lieu if they saw i am trying and cant sell?

We left our house in Hawaii and relocated in Little Rock AR, so that I can receive cancer treatment at UAMS. We've been trying to sell our house for months (no buyers) and have expended all of our resources. Our RE agents want us to do a 'short sale' and others have advised us to walk away and let the bank take it (foreclosure). Please help us make the best choice from our limited options!

We bought our first home in Fernley, NV in Oct 2005, assuming we would be there several years. We financed with Flagstar for a 3-year interest only loan at 5.35%. I was transferred with my job 8 months later, and could not sell the house due to the market. We have been paying on the house for 3 years, and this Oct our loan could go up as much as 2%. We have had a renter in the house covering the $1650 a month mortgage, but that renter is exiting the house within a month, making this house something we can no longer afford. The bank says they will not consider anything until we default on the payments, but we didn't want it to get to that point. What options do we have?

we were jut approved from cuntywide for a deed in lieu
they have hte frst and secondliens
on the roperty, when it is done this week are bot leins satisified,, clear,, and are there any deficiencies judgments agains us

I currently own a property in Tex. The tenant is not able to buy the property and may be moving out. Due to the reassessment I will not be able to afford the morgage. I would like to know the worst case senario would be if the home goes into forclosure??

Can someone explain what is a deed in lieu of foreclosure?

My house has been for sale for two years. I remarried 9/07 and moved into my husbands home. We can no longer afford my home and have stopped making payments a month ago. We used up all our savings to keep this house to sell. With Deed in Lieu or Foreclosure will my husband assume this responsibility too? What do we do?

Call Sheri Kagimoto Loss Mitigation Services
http://mortgageassistanceandmitigation.com/
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Doc

Call Sheri Kagimoto Loss Mitigation Services
http://mortgageassistanceandmitigation.com/
Sheri's team is knowledgable and they care. She helped us and we're sure happy now.
Doc

I am in the process of doing a deed-in lieu and I am wondering why I am required to provide tax and bank documents? We can afford the home but it was suggested to us by our real estate agent to go into default because the home has been listed for 6 months and we are moving out of state in 2 weeks. We are being forced to relocate due to my husbands military assignment.
Is it necessary to provide tax and bank documents? They won't prove the hardship on the financial side.
Would a copy of my husbands military orders and a letter work?

Anyone looking for a Loan Modification seeking first reliable trustworthy specialist contact me rose _ docherty at yahoo dot com. I can get a rate lowered, payment lowered, forgive past lates and fees and even may reduce principal on mortgage. As long as the sheriff sale has not taken place I can help you save your home. If you have been on time or get behind I can get you a rate no higher than 5% and as low a 2%. Any situation that shows a hardship as well, can be done.

I got behind on my mortgage because of job loss (which I have now returned to work making good money) and the servicing company that bought my mortgage refused to allow me to refinance or modify and demanded payment in full which included interest and penalties. I have had to give the house back and now wonder if I will ever be able to buy again. What do you think my chances are?

We were only one month behind on our adjustable rate payment when I tried to get them to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone (he was a big jerk!) actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! He also said we should get a cheaper car and a bunch of other stuff that was really rude. This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.25% fixed interest rate! I finally decided to call them, and in about 45 days they got my interest rate down to 3.85% on a fixed rate too! The company is First American Financial Group and we are really happy with what they did for us. The website is theloanmodfacts.com. We chose them because they didn’t make a bunch of promises like some of the other companies and they had a 100% money back guarantee. I hope this helps some other people fighting with their loan company!

i have a condo in another state. I moved away in january after I retired and moved in with a friend in WI. I put the condo on the market and no one has even looked at it. It was appraied 2 years ago at $105,000 and is now on the market for 73,100 I owe 69 on the first and 15 on the line of credit used for new windows and floors etc. I have depleted my retirement money by 5,000 to keep paying the mortgage & line as well as condo fee and utiities. I am out of money now and cannot pay these costs. I am 74 years old and have retirement annutiy and SS of 2,000 a month. I was working part time but am unable to continue to do that due to health issues. Do I just call bank and tell them I cannot continue to pay the pay the costs of the [ property. Also my property taxes for 1/2 year are now due. DO I JUST LET IT GO TO FORECLOSURE. I have no intention of going back there to live or buy another car or house in my lifetime. What do I do?

We have tried all of the deed in lieu, foreclosure was iminent but our realtor in Florida helped us out 100%. He talked to bank, helped us out with advice, and was brilliant. Eventualy he got bank to accept an "as is" sale. all debts monies owed were paid off. ok we lost money as didi bank but the property value had more than halved so that was the best offer.