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Ask The LA Realtor-Can I Deed my property to someone else to Avoid Foreclosure?

By
Real Estate Agent with Munson Realty Southern California Real Estate

Can I Deed my property to someone else to Avoid Foreclosure? Deeding your property to someone without paying off the mortgage loan does not forgive you of the debt, and the property is still encumbered by a lien.

Ultimately, you will have to pursue other home foreclosure alternatives or simply walk away and allow the bank to foreclose.

Always check with your attorney to verify all the options available to you

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Comments(2)

Cindy Logan
Mark 1 Real Estate Advisors - Huntington Beach, CA

Good information.  There are so many scams out there; people being taken advantage of because of desparation.  As an investor, I work hard to make sure homeowners understand their options.

Apr 01, 2011 05:32 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Stephen, People are creative thinker – aren’t they. Looking for ways out … if it were only that easy! (LOL)

Apr 03, 2011 04:44 AM