Legal Question in Real Estate Law in New York
What is the procedure for signing your house back over to the mortgage company, so you don't own it anymore, but they do? I can't afford it, and I'm already behind in the payments. I have no equity in it. I just want to sign it over and walk away.
2 Answers from Attorneys
This is usually a deed in lieu of foreclosure. It is within the bank's discretion to accept it. Also, you will need to show that you have tried to sell it, and that you haven't damaged the property.
Feel free to contact me for more information
Dave
http://nylegaladivsor.com
We have substantial experience handling these types of cases, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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