deed in lieu
deed in lieu
I can't keep paying my investment prop, just talked to a lawyer about "Deed in lieu". He's suggested for me to keep paying the mortgage while he process the "Deed in lieu" with the bank. But why we have to keep paying and isn't that "Deed in lieu" about?
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The lender may not accept your request for a deed in lieu of foreclosure if you're paying the loan. As far as I know, you may have to be 2-3 months deliquent in your loan payments in order to get a deed in lieu of foreclosure.
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Thanks Sussane. I found another lawyer and explained my situation and he is willing to take the case and will negotiate w/ the bank for DIL. I am starting to stop making payment this month. I've been trying to sell this house for the past 15 months and no luck.