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Can you share more details about the deed in lieu of forclosure requirements and process?

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khalihah_d Joined: 17 May 2011 Posts: 1 1.27 Dollars($)	Posted: Tue May 17, 2011 12:52 pm    Post subject: Can you share more details about the deed in lieu of forclos Like 0 Dislike 0 I am looking for the specific criteria/circumstances that a lender uses to qualify someone for the deed in lieu of forclosure.
Guest	Posted: Tue May 17, 2011 1:14 pm    Post subject: Like 0 Dislike 0 Banks dont really go by guidelines, I have found that they do what they want. They use a Net Present Value tool to figure which option makes the bank the most money. The government implemented programs to help the homeowners, such as loan mod, short sale, deed in lieu, but there is no one overseeing the banks and their actions. Bank of America for example, stopped foreclosures earlier, because they were being sued for illegal foreclosures. They are back at it, foreclosing, even when the system that failed the first time, has not been modified. Best advise, record every conversation. Write everything down and use a recorder to get the banks reps on tape. Follow up and follow up. Good luck
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Tue May 17, 2011 9:35 pm    Post subject: Like 0 Dislike 0 Welcome khalihah_d, To know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html _________________ Procrastination is the enemy of your financial success

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