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CHRISBOQ · Joined: 21 Oct 2008 Posts: 1 1.32 Dollars($)

I have had a flawless credit record until now. I am in the process of a divorce. I am the mortgage holder however both names are on the deed. I am unable to make these payments alone on my income even if I were to refinance. Can I file for a deed in lieu and how do I go about it. I am desperately trying to save my credit record so I can make a life for myself and kids once the divorce is final. THANKS FOR YOUR TIME

smithsussane · Posted: Tue Oct 21, 2008 8:47 pm Post subject:

Hi CHRISBOQ!

Welcome to forums!

You will have to contact the lender and apply for a deed-in-lieu foreclosure. If your lender approves you for the deed-in-lieu, then you can go for it. Your lender will tell about the steps you need to take in such a case.

Feel free to ask if you have further queries.

Sussane

Guest

I signed a Warranyt Deed in Lieu of Foredclosure on my home in February of 2008. Their was no liens on my property but the mortgage company took until November of 2008 to clear title. On my credit report it shows as a repossession with over 180 days late. I was told by the mortgage company when the house was put up for sale that the repossession would not be changed on my credit report until they sale the house. I never received a Mortgage Release Certificate. Can the mortgage company treat my deed in lieu as a foreclosure and come after me for a deficiency when they sell the house? I live in Michigan.

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How does one file for a deed in lieu in the state of Michigan?