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Deed in lieu dos and donts

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moffit Joined: 08 May 2009 Posts: 2 1.59 Dollars($)	Posted: Tue May 12, 2009 4:07 pm    Post subject: Deed in lieu dos and donts Like 0 Dislike 0 What constitutes as personal property possessions when going through a deed in lieu of forclosure?
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Thu May 14, 2009 4:58 am    Post subject: Like 0 Dislike 0 Hi moffit, In a deed in lieu of foreclosure the borrower signs over the title to the property to the lender, who then sells it off to recover the loan amount. As far as I'm aware, the lender can repossess only the real estate property that has been kept as a collateral. Your lender cannot take away your personal properties. Nevertheless, if the loan amount is not satisfied after the sale of the property, the lender may put liens on your other real estate properties or may garnish your salary.

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