Legal Question in Real Estate Law in Georgia

I did a deed in lieu of foreclosure about 2.5 years ago. The house still has no owner and recently a company offered to get me back in the house at the price that it is currently appraised (much lower than I paid originally) and with current interest rates. I moved from that state, but still suffer from the credit burden. My question - is it a good move to get back into it? Is it possibly a scam?

Thanks,

Deborah


Asked on 9/22/11, 4:53 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

No one here can possibly know. We don't know who "a company" is and whether they own the house. How can it possibly help your "credit burden" and how would you qualify for a loan? All things we don't know. Unless you have the answers to all these questions and more, you should not buy any house.

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Answered on 9/22/11, 4:57 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

First of all, when you did the deed the house did get a new owner, the bank. It is very unlikely the bank would make such an offer, and if it came unsolicited, there is a 99% probabilty it is a scam.

Even if it were not a scam, moving back in would not erase your past credit history.

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Answered on 9/22/11, 4:58 pm


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