Deed-in-lieu of foreclosure due to divorce

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Robin Kaye

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Post Posted: Wed Oct 10, 2007 3:20 pm    Post subject: Deed-in-lieu of foreclosure due to divorce
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After our divorce, my ex-husband remained in our marital home. We agreed to sell the home and that he would live there until it sold. Well...the house hasn't sold and has been on the market about 5 months. My ex-husband hasn't missed a mortgage payment yet, but he can no longer afford the payments. Would we qualify for a deed-in-lieu of foreclosure?
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Margaret

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Post Posted: Wed Oct 10, 2007 11:01 pm    Post subject:
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Hi,

Yes, I think you can go for a deed-in-lieu of foreclosure if you can prove your financial hardship.
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Post Posted: Thu Oct 11, 2007 5:08 am    Post subject:
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Hello Robin,

I guess you need to have some late payments to qualify for deed in lieu of foreclosure.
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Post Posted: Fri Oct 12, 2007 4:41 am    Post subject:
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Yes, it is better for you to go for deed in lieu. You have to prove your financial crisis to the lender. Thatís all Smile
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