my home is being foreclosed on no court date as of yet i dont want the home i cant afford it i have moved out my ex and i are both on the loan he commited suicide should i call the bank and tell them i will sign papers so they dont have to go through the courts or should i do nothing?
Answer
I would definitely not do nothing. Call the bank and offer to give them a Deed in Lieu of Foreclosure. Make sure that the bank waives any right to a deficiency as part of the agreement. You will likely have to disclose financial information to the bank so that they can make a determination as to how they want to proceed.
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