Can I Walk Away From a Mortgage?
When it comes to mortgages, there is a lot of misinformation out there. One of the most common questions we get is "Can I walk away from a mortgage?" The answer is usually no, but there are some circumstances where it may be possible.
If you're facing foreclosure, you may be able to negotiate with your lender to do a deed in lieu of foreclosure. This is where you turn over the deed to the property back to the bank and they agree to cancel the mortgage. It's not an ideal situation, but it can help you avoid going through a formal foreclosure process.
Another option is to sell the property as a short sale. This is where you sell the property for less than what you owe on the mortgage and the bank agrees to forgive the difference.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling on the number 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706