Legal Question in Banking Law in Pennsylvania

banking & property law

I brought a house, my mortgage is current. I would like to give the house up to the bank. What are the consequences, I am not in default or foreclosure Can that be done?


Asked on 1/16/08, 6:59 pm

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: banking & property law

You asked about abandoning property to the mortgage holder.

What you suggest can be done but can have many negative repercussions.

Hire an attorney to guide you through the process. You will need to consider not only the foreclosure but also the tax and title implications.

Regards,

Roger

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Answered on 1/16/08, 7:33 pm


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