Posted on: 09th Jul, 2009 03:21 pm
I am laid-off and considering a DIL. What is the least amount of money you think someone should have in the bank before filing for a DIL? I do need to share my bank account information with my bank and this is why I ask. I hope to hear back. Thank you.
dveeneman,
Welcome to mortgage fit
Most of the time the lender will accept your DIL request if the amount of real estate value is (including all the estates you own) more than you owe.If he does not accept the proposal you can not go ahead with DIL.
As far as minimum cash required is concerned, I am not very sure about it but DIL has to be carried out only if both the parties agree for it in a good faith.
I do not think that there is any such kind of regulation that one need to have some fixed amount of money in his account and then only he can go /apply for DIL.
keep in touch...........
Welcome to mortgage fit
Most of the time the lender will accept your DIL request if the amount of real estate value is (including all the estates you own) more than you owe.If he does not accept the proposal you can not go ahead with DIL.
As far as minimum cash required is concerned, I am not very sure about it but DIL has to be carried out only if both the parties agree for it in a good faith.
I do not think that there is any such kind of regulation that one need to have some fixed amount of money in his account and then only he can go /apply for DIL.
keep in touch...........
Hi
There's no such rule that states how much money you should have in your bank account before filing DIL. If you are struggling to make the mortgage payments, you can request your lender to do a deed in lieu. I think you need to share your bank account information as a part of the various formalities. It's not going to affect your eligibility for a DIL.
There's no such rule that states how much money you should have in your bank account before filing DIL. If you are struggling to make the mortgage payments, you can request your lender to do a deed in lieu. I think you need to share your bank account information as a part of the various formalities. It's not going to affect your eligibility for a DIL.
I thank you two for your reply. I really appreciate it. Have a great day.