Raw remote land in Lassen County California
Submitted by bassiransary on Tue, 06/10/2008 - 8:48pm.
I bought a raw remote land in Lassen County California about two years ago. I still don’t know where exactly this property is; now with so much hardship to make ends-meet I just want to walk away. The property is financed through the seller with a high interest rate so could I just release the deed back to them? thanks, Bassir
Comments:
Yes, if they agree. You should ask them if they would accept a deed-in-lieu of foreclosure in exchange for a reconveyance of the loan they made you.
If they refuse then they will need to pursue foreclosure. If you have other assets they could pursue judicial foreclosure and try to get a deficiency judgement for any difference between what you owe, and what they are able to resell the property for.
Thank you
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