Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Should I file bankrupcty - deed in lieu of foreclosure condo? - Hello, I have an investment property that I have had on the market for a year as a short sale. It was originally my residence, but then I moved out, got married, had 4 kids and have a primary home now. Lost tenants and my job and had to accept lower pay and with the 4 kids, can't afford the second mortgage. I have had great offers, but the bank has rejected all of them. (6 total). Their appraisal has come back three times 30k over what they are selling for. Anyways, they rejected all the offers and closed my file. I had no other option but to file for a deed in lieu of foreclosure with the bank. I won't know if that is approved for 30 days. But what does this mean? Will I be looking at a huge deficiency or judgement? I can't afford either. Should I file bankruptcy now? -
