http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender Pure Real Estate Fri, 27 Mar 2009 10:53:13 +0000 hourly 1 http://wordpress.org/?v=3.0.3 http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender/comment-page-1#comment-845 JJcoolJ Sun, 18 Jan 2009 14:17:12 +0000 http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender#comment-845 Have you tried a Loan Modification? Have you tried a Loan Modification?

]]> http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender/comment-page-1#comment-844 scnotebuyer Fri, 16 Jan 2009 02:07:21 +0000 http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender#comment-844 I'm VERY surprised that bank hasn't sought to work this out with you. Banks are in the lending business, not the RE business. What I mean is that most of the banks I work with in my business usually only foreclose AFTER they have exhausted all other avenues with the resident. The voluntary surrender is their way of getting you to relinquish residency while they dodge the litigation costs. Good luck to you........ I’m VERY surprised that bank hasn’t sought to work this out with you.
Banks are in the lending business, not the RE business. What I mean is that most of the banks I work with in my business usually only foreclose AFTER they have exhausted all other avenues with the resident. The voluntary surrender is their way of getting you to relinquish residency while they dodge the litigation costs. Good luck to you……..

]]> http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender/comment-page-1#comment-843 rusty_266 Thu, 15 Jan 2009 02:14:35 +0000 http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender#comment-843 The voluntary foreclosure dramatically reduces the costs for the mortgage company and the time involved. That said, its a good time to negotiate a settlement that is in some way beneficial for you. Whether it be to stay in the home or to not report the foreclosure on your credit report. There is no difference in voluntary foreclosure or a formal foreclosure in terms of how it affects your credit report. Both will be view negatively by potential future lenders. The voluntary foreclosure dramatically reduces the costs for the mortgage company and the time involved. That said, its a good time to negotiate a settlement that is in some way beneficial for you. Whether it be to stay in the home or to not report the foreclosure on your credit report. There is no difference in voluntary foreclosure or a formal foreclosure in terms of how it affects your credit report. Both will be view negatively by potential future lenders.

]]> http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender/comment-page-1#comment-842 Cheryl G Tue, 13 Jan 2009 12:28:57 +0000 http://www.jjrealestatebg.com/usa-real-estate/how-much-of-a-difference-is-there-between-foreclosure-and-voluntary-surrender#comment-842 In most jurisdictions, the foreclosure goes on your credit record. While the voluntary surrender may appear on the record, it does not imply the black mark a foreclosure creates. You can call the lender and ask them to sign a release in exchange for your signature on the voluntary surrender form. At that time ask them your questions. In most jurisdictions, the foreclosure goes on your credit record. While the voluntary surrender may appear on the record, it does not imply the black mark a foreclosure creates. You can call the lender and ask them to sign a release in exchange for your signature on the voluntary surrender form. At that time ask them your questions.

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