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Posted: Sat Jul 17, 2010 1:36 pm Post subject: deed in lieu

my lender is fannie mae in michigan. Can they come after me for money if the house dont sell for what i bought it for in a deed of lieu? and if so how can i get out of that without them putting in a judgement down the road?

Niicss · Posted: Mon Jul 19, 2010 3:18 am Post subject:

If your lender sells off your property through a deed in lieu of foreclosure, he won't come after you for the balance dues resulting from the sale of the property. The lender will forgive the dues. As the dues will be forgiven, the lender will not file any kind of judgment against you.

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