Money Watch Q&A: Deed in Lieu of Foreclosure - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Money Watch Q&A: Deed in Lieu of Foreclosure

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Many Nevada homeowners are still struggling to make their mortgage payments. If this includes you, did you know you may qualify for relocation assistance? Fannie Mae and Freddie Mac backed-banks are offering its customers upwards of $3,000 to move. Plus, this Deed in Lieu of Foreclosure program now eliminates the mountain of paperwork that used to accompany this process.

Marshall Carrasco of Marshall Realty joined us for our Money Watch Q&A segment to discuss these home seller incentives. He says, in some cases, homeowners who qualify for this program are eligible to stay in their home as renters. It is part of a pilot program going on right now. Carrasco says the most promising part of this program is that homeowners are released of any liability after handing their keys back to the bank. Carrasco says this program helps banks prevent losing even more money to homeowners who cannot pay their mortgages and it offers struggling homeowners a fresh start.

To learn more, Marshall Realty's contact information is as follows:

(775) 787-7400
9740 S. McCarran, Blvd #103
Reno, NV 89523

Written by Kristen Remington

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