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repair4u · Joined: 13 Oct 2009 Posts: 1 1.23 Dollars($)

i have a first and second can i still do a deed in liu of forcloser

jenkin7 · Posted: Tue Oct 13, 2009 10:42 pm Post subject:

Hi repair,

You can definitely do a deed in lieu of foreclosure even though you have two mortgages on the property. But you will have to get the approval from the second loan holder as well as the first. Both of them need to accept the deed in lieu offer. However, if the deed in lieu does not pay off the second loan, the lender can go after you for the deficient amount.

Company	Loan Type	APR	Est. Pmt.
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deed in lui