Legal Question in Real Estate Law in Florida

I have walked away from my house and it is now going through foreclosure and I have no desire to stop it. I do not live in the house and it is vacant. The problem is, its taking a long time and the bills are getting bigger and bigger (taxes, hazard insurance for a vacant property, late fees, negative credit reports,letters, phone calls) I have asked them if they could foreclose faster but they say it has to go through the process. I do have it on the market for a short sale with no offers priced at what the mortgage company would take and I have asked for a deed in lieu. It has been 10 months since I made a mortgage payment and they said it wont go through foreclosure until sometime next year. What can I do to put this behind me, move on and start rebuilding.

Asked on 10/28/10, 1:22 pm

Jacqueline Salcines Jacqueline A. Salcines, PA

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You should negotiate a deed in lieu with them to transfer title back to the bank and have them wipe out the balance.

Answered on 11/02/10, 1:51 pm

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