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Guest

My ex-husband and I also have a home equity loan besides the mortgage. Does that prevent us from proceeding with a deed-in-lieu of foreclosure?

jenkin7 · Posted: Wed Oct 10, 2007 10:21 pm Post subject:

Hello Robin,

Lenders generally do not want to accept a deed-in-lieu with a second mortgage on the property. You may have to negotiate with your lender for that. The second lien becomes a burden for him.

You may look here http://www.mortgagefit.com/predeal/deedinlieu-juniorlien.html for further information.

Guest

Hi,

I don't think your lender will accept your deed in lieu with a home equity loan on your property. Why will they take such responsibility?

Guest

Yes if you have a home equity loan besides the mortgage, the lender will not take the risk. It is seems very difficult but on your part you can talk to the lender.

smaildaytoday · Joined: 15 Oct 2007 Posts: 52 0.00 Dollars($)

no.you cas go into foreclosure with either mortgages.

jenkin7 · Posted: Mon Oct 15, 2007 5:53 am Post subject:

Hello Smailday,

Welcome to the forum.

I think, deed in lieu is not impossible but lenders do not want to take the risk.

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