Imminent Foreclosure?
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Best thing to do is talk with an accountant who is a CPA. Present all your problems, concerns, options and see how he/she can guide you through what is best for you.
All the banks, mortgage companies, credit card companies, etc all have self interests. A CPA is like hiring your own attorney to help you through finances. CPAs doesn't have to be expensive and you would likely only need to meet with one for an hour or less.
Imminent Foreclosure?Regarding the Quit Claim--no it will not save the other folk's credit. What matters is who is on the loan, not who is on the title.
Regarding the "we buy houses" people, most of these people are not bottom feeders, they are business people. They will be trying to get the best deal they can and you can negotiate with them to get the best deal YOU can. In a GOOD deal you both get some of what you want and it is a WIN-WIN situation. The investor gets some of your equity and you get some of it. You get out of a bad situation with your credit not totally sunk by a foreclosure and the investor makes some money from your house.
Sometimes you can negotiate with the lender but this is MUCH harder than it sounds. It is difficult to find the right dept to negotiate with because the only people calling you are the bill collectors which often aren't even part of the lender's company. Call and ask for the "Loss Mitigation" department. Sometimes you can do a Deed in Lieu which means that you just give the deed back to the bank, saving them the cost of legal fees to foreclose.
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