Deed in lieu or New Loan?

[Jeff Bowman]

I live in a nonjudicial foreclosure state. I own a nonperforming note. My last option is to foreclose then auction the property on the courthouse steps. I would rather make an arrangement with the debtor. The problem is that I would have to finance a loan to him (renegotiate the original terms) or take a deed in lieu. I prefer the latter option.

I'd be curious to hear what other more experience note investors have pursued in the past.

Thanks!