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With a Deed In Lieu of Foreclosure when should you notify your lender.

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rvj53 Joined: 07 Oct 2010 Posts: 3 1.87 Dollars($)	Posted: Thu Oct 07, 2010 12:20 pm    Post subject: With a Deed In Lieu of Foreclosure when should you notify yo Like 0 Dislike 0 I am going to lose my employment in September 2011, I going to leave the state of California and return to my home in Idaho. I would like to enter into a Deed in Lieu of Foreclosure with my lender. I will discontinue making payments after 09/01/11. My current mortgage in company sponsored, in other words the assist with payments until around 2014, but once I stop they stop. Do you think my lender will enter a Deed in Lieu of Foreclosure. Will I be liable for taxes ??
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Thu Oct 07, 2010 9:21 pm    Post subject: Like 0 Dislike 0 Hi rvj, Unless you're delinquent on your mortgage payments, the lender will not accept your request for a deed in lieu of foreclosure. Once you default on your mortgage payments, you should contact your lender and negotiate for a deed in lieu of foreclosure. If the lender is convinced by your financial situation, you'll be able to get a deed in lieu of foreclosure. Thanks

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