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What are the situation for a lender to accept your Deed in Lieu of Foreclosure?

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Guest	Posted: Wed Nov 18, 2009 8:55 am    Post subject: What are the situation for a lender to accept your Deed in L Like 0 Dislike 0 Deed in Lieu of foreclosure
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Nov 18, 2009 10:42 am    Post subject: Like 0 Dislike 0 i think the answer will vary from one lender to another. most look at a deed in lieu as a way to eliminate wasteful time and money, and once they recognize that there is no way out for a debtor, lenders ought to be pouncing on a deed in lieu. it saves them money, it saves a borrower money, and it gets things done far faster than going through the foreclosure process. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Nov 18, 2009 10:43 am    Post subject: Like 0 Dislike 0 sorry...meant to add this: you need to have this discussion with your lender to see if there's a way in which you can describe your circumstances to them that will persuade them to accept the deed in lieu. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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