WHAT ARE THE STEPS TO VOLUNTARY REPOSSESSION OF MY HOMEgreenspun.com : LUSENET : Repossession : One Thread
Ladies & Gentlem,
I bought a home back in 1993 for $57,000 thinking that it would be an investment. I have an realestate agent trying to sell the home. She is telling me that she can only sell it for $27,000. (I still owe $51,000). That I would have to come up with the remainder of the $51,000. This is very aggrevating. I am a US Service member serving overseas and I don't have anyone back in the states to help me with this.
My question is what do I need to do to voluntarily turn over the home to the bank that holds the loan? I am not delinquint on any of the payments. I just want to get rid of it because it has been more of a problem for me.
Your support and reply to this matter is appreciated.
-- Nicanor Munoz (firstname.lastname@example.org), July 16, 2000
How does a person voluntarily let the mortgage company take back the home when it is not possible to make the payments?
-- jack warner (email@example.com), September 28, 2003.