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ccorder23 · Joined: 31 Aug 2010 Posts: 1 1.39 Dollars($)

Hi,my name is Cathy.I bought a home in 2006 and in 2007 my husband was off from work for over eight months due to a medical issue.When he was released to go back they fired him.So needless to say our home went into forclosure and has been for two years.We are trying to get a deed and lieu granted but my lawyer and I cannot seem to get any info from anyone who knows what they are talking about at BofA.Our credit is shot.We just want rid of it so we can begin to rebuild our future.We have two children.And all four of us lives in a home that was freely built for us and is valued well over 40,000.So that takes the bankruptcy option away.What can we do?Please help.......

jerry · Posted: Wed Sep 01, 2010 2:29 am Post subject:

Hi ccorder,

You should contact the lender and apply for a deed in lieu of foreclosure prior to filing bankruptcy. You should negotiate with the lender for the same. If the lender approves your request, then you would not only be able to get rid of the property but you won't be liable for paying the balance dues resulting from the sale.

Thanks,

Jerry

Guest

We have been int the process of a deed and lieu of forclosure for 6 plus months.But we cant seem to get a yea or no weather or not we are or going to be granted one.They have court to set a saledate soon.Will it bee too late by then?thanx

smithsussane · Posted: Thu Sep 02, 2010 2:48 am Post subject:

Hi Guest!

Welcome to forums!

You should immediately contact the lender and ask them to inform you whether or not your request for a deed in lieu of foreclosure will be accepted. The lender will be the best person to let you know whether or not your request will be accepted.

Feel free to ask if you've further queries.

Sussane

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