Foreclosure Mortgage
Can I give my keys to mortgage my house to avoid foreclosure?
I heard a person may surrender the keys to their homes and sign the deed over to the mortgage lender to avoid foreclosure. Is it true? I guess it's seen on the credit report remains as a guard, but it saves lender some costs and you do not go through so much pain, and forgive the debt. is it true??
It is true, if the Bank accepts. It is usually not in their best interest to agree, since they lose the money you took from them. They can not get it through other methods, as they can in a foreclosure. Ask your lender if they will accept the deed in lu of foreclosure. If there is a very good equity they very well could.