Deed In Lieu of Foreclosure Information
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what would be the reason not to be able to do a deed and lieu , i thought i had a choice, i have to ask?
PEB979 1 year ago
By the way I'm not saying short sales are bad mind you. I'm just clarifying that lenders are more than willing for Deed in Lieus. Typically short sales benefit the borrower (and many times the lenders) though this isn't a cookie cutter one-size-fits-all optioin. It always depends on the circumstances. Realtors, however, will always try to push for a short sale.
poolerboy0077 3 years ago
How misleading. First, deed in lieu is an *rapid* foreclosure. Second, lenders do say the yes more often. Lenders always push a Loan Modification (which you seemed to have left out of the clip) because they'd rather you keep the property. If not possible then they push the Deed in Lieu to collect from the MI (Mortgage Insurance). It can be done in a short sale but it can take 2 to 6 months. A foreclosure is the last thing they want given the length of time. Are you an agent? I smell propaganda.
poolerboy0077 3 years ago