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Second Mortgage Deed in Lieu of Foreclosure

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spm11 Joined: 14 Nov 2010 Posts: 1 1.00 Dollars($)	Posted: Sun Nov 14, 2010 1:01 pm    Post subject: Second Mortgage Deed in Lieu of Foreclosure Like 0 Dislike 0 If my home is now in foreclosure proceedings by the primary mortgage holder, is it possible to provide a deed in lieu of foreclosure to both the primary and secondary mortgage holders?
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sun Nov 14, 2010 8:01 pm    Post subject: Like 0 Dislike 0 Hi spm, If you're facing foreclosure, then you can contact your first lender and apply for a deed in lieu of foreclosure. This will help you in avoiding foreclosure and you won't be liable for paying the balance amount resulting from the foreclosure sale. However, both the parties will have to agree to your request for a deed in lieu of foreclosure. Thanks
Guest	Posted: Mon Nov 15, 2010 7:25 am    Post subject: Like 0 Dislike 0 Thanks for the info jameshogg _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant

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