Compare Mortgage Quotes

tiencdi · Joined: 13 Jan 2010 Posts: 1 1.34 Dollars($)

We have a home that we plan to put up for sale next week for $660,000. We have a first mortgage for $513,000 and a second for $49k and a third for $47k. I understand that we begin to discuss options with the first mortgage and that they likely will accept the Deed in Lieubecause we are asking a very realistic price. What happens to the 2nd and 3rd mortgages in this instance (assuming we don't sell at the end of 90 days and go the deed in lieu of route)?? Do we tell the 1st, that we have a 2nd and 3rd? Or do we tell the 1st and 2nd and disregard the 3rd? Please need answers asap.

gmakerley · Posted: Wed Jan 13, 2010 4:34 pm Post subject:

which is it: it's for sale or you're going to negotiate a deed in lieu of foreclosure?

anyone doing a title search will recognize that there are three mortgages. and if you've been informing your insurance company in compliance with your obligations under the notes, all three will know there are three liens.

you might just be able to pay off all three if you sell it...why the question about deed in lieu?

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Deed in lieu of