What Happens If I Can Not Find a Buyer for My Foreclosure?Return to Videos
If you can’t find a buyer for your property, there are some times that the bank will take it back without completing the foreclosure. They call that a deed in lieu, but the reality is that, you know, some banks won’t accept deeds in lieu or won’t waive the deficiencies if you do. It’s important that if you’re gonna ask for a deed in lieu that you position yourself and you make it until the bank has a choice to make.
Do they fight with you for that foreclosure or is it easier just to take the property back and agree to waive the debt. And those are choices that you’ll be able to make when you have a good lawyer at your side helping you figure out those strategies.