Legal Question in Real Estate Law in Indiana

home abandonment

what is the difference between giving a home back to the bank verses forclosure ? Is there a legal difference ?


Asked on 4/22/09, 10:51 am

1 Answer from Attorneys

Re: home abandonment

Yes, the one is called a deed in lieu of foreclosure, has a better impact on your credit and non-liablity for a shortfall if the bank will accept it. You cannot just walk away without an agreement and assume that you are off of the hook.

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Answered on 4/22/09, 11:41 am


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