I don't remember the lenders though holding a gun to these people forcing them to sign.The stimulus, mortgage debt relief act, Project Lifeline, etc.

Just make me more money thru cash, time, or stress relief, that simple.

Water heater installed 1987 with no temperature/pressure relief valve and drain line.6.

There WILL be policy change coming on housing for owners who have held there own, good payer relief, it is so politically charged that it is a certainty now.If you can hold it a-ok, I would strongly urge you to wait for the relief policy that will be coming soon, then take advantage of it.

Big sigh of relief.

HSBC has told me they only hold notes they do not do mortgages so then am I not eligible for relief under HARP?

comparable thread www.biggerpockets.com/forums/61/topics/73924-timeshare-relief--is-there-money-to-be-made

J Scott - Here's the donate link I'd like for you to use:http://sandyrelief.org/Please donate the funds on behalf of BiggerPockets.com to the Sandy Relief Fund . . . that'll make my day!

Chances are you will - have a deficiency judgement, - if there is a second mortgage you will owe that money, - the IRS views the debt as forgiven income (see a CPA), http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-- your credit FICO score will drop as much as a foreclosure,and - your borrow-ability with any government agency like FHA will be harmed for a long time.So what is left?

If the former owner had filed bankruptcy, and the lender had not obtained relief from stay, then the foreclosure sale was invalid and may explain why they rescinded the deed (if that is in fact true).