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If you have some money in savings, can the lender take that if you do a deed in lieu?

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Guest	Posted: Fri Nov 06, 2009 10:25 pm    Post subject: If you have some money in savings, can the lender take that My husband passed away this year. I have received some insurance money. But, I no longer can afford the monthly mortgage. What will happen to the insurance money?
smithsussane Joined: 18 Sep 2008 Posts: 3737 Location: Alaska 561.26 Dollars($)	Posted: Sat Nov 07, 2009 12:39 am    Post subject: Hi Guest! Welcome to forums! In a deed in lieu, you are not liable to pay the deficient amount to the lender. Thus, the lender will not garnish your savings account in order to recover his dues. Sussane

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