Here’s what some experts in Washington State have to say, “… there is debate amongst attorneys and different courts as to the effect of a deed in lieu as well as regarding the existence of the right of a creditor to seek a deficiency judgment if the lender later sells the property for less…
…Our advice is to have the agreements reviewed and to negotiate clear release language.” McFerran, Burns & Stovall, P.S. www.mbs-law.com
I absolutely agree!
BE SURE TO GET ADVICE FROM AN ATTORNEY Many will consult with you over the phone for as little as $150. (I know some in the Seattle / Tacoma area. Email me for their info. Julie@JulieHutton.com )
Three KEY SUGGESTIONS:
- Type up all your questions and the key facts before your appointment. Then email these to the attorney to review as you consult with them. This way you can be sure to remember to cover EVERY question you have so you can make the best decisions FOR YOU in your situation.
- You may even want to record the conversation so that you can review it later with a clearer mind or with a partner.
- Don’t be ashamed. We are in an economic crisis of major proportions. You are just one of multi-millions. Get the help you need and make a fresh start. You are a good person!
If I can help in any small way… please feel free to contact me.
Warmest, Julie Hutton 425-260-4440 Julie@JulieHutton.com
Broker with Coldwell Banker Bain, Kirkland, WA