Legal Question in Real Estate Law in Kentucky

mortage

I can't afford to make my house payments. I have had to relocate to another state to find work. What should I do about my mortage?


Asked on 2/17/09, 6:57 pm

2 Answers from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: mortage

Talk with someone with your lender about voluntarily surrender in lieu of foreclosure.

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Answered on 2/17/09, 9:07 pm
Randall Greer

Re: mortage

You can execute a quit-claim deed, which conveys your home back to the mortgage company. You can also arrange a "short sale" where you sale the house to someone, usually for less than you owe and the bank has to approve of the amount.

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Answered on 2/17/09, 10:47 pm


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