Today I talked to a bank about a client giving a property back-----"deed in lieu of foreclosure" ---only to learn the property MUST be listed by a Realtor for three months before the lender will accept the deed! We have had the property listed, although not for three months, but even with VERY competitive pricing we haven't gotten an offer. There are so many properties on the market that a lot of buyers don't want to take the time to deal with banks.
If you are playing a juggling game just to stay afloat and make your house payment, get your home listed by a Realtor immediately. If it comes to the point you are unable to sell, you will be able to give your home back---"deed in lieu of foreclosure."
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