You may not be liable for any shortfall on the Deed in Lieu of Foreclosure - BUT - you have to make sure it's worded correctly.
I'm w/Disneysteve, it's not a good situation that you've gotten into, but I wouldn't keep putting money into a virtual money pit unless you see your fortunes picking up SOON.
Rental looks to be out - how are sales & short-sales going, in the area your house is located in?
|