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Updated about 4 years ago on . Most recent reply
Can a homeowner in foreclosure quit claim deed property for money
Can a homeowner in foreclosure accept money and quit claim deed their property? And then can that new homeowner try to do a short sale with the bank and be the buyer and essentially the seller?
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Wayne Brooks
#1 Foreclosures Contributor
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
@Juan Chavez No. The Borrower has to still be the owner/seller in a short sale transaction. If the deed is transferred to someone else, the lender will have to foreclose. Heirs/borrowers with an HECM have little incentive though to go through a short sale.