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Deed in lieu of foreclosure

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sss5358 Joined: 04 Aug 2010 Posts: 1 1.32 Dollars($)	Posted: Wed Aug 04, 2010 3:51 pm    Post subject: Deed in lieu of foreclosure Like 0 Dislike 0 I am living in a home in Washington State. Our mortgage payments are not in arrears nor are there any late payments of any kind. However, I lost my job due to Lay Off a year ago and am on unemployment. Now it appears my wife may loose hers shortly. Can I turn my home back on a deed in lieu of foreclosure to my bank (Citibank). Our equity if sold would be next to nothing as the housing market as made the value very close to what we still owe on the mortgage. Thank you.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Aug 04, 2010 9:06 pm    Post subject: Like 0 Dislike 0 Hi sss! Welcome to forums! A lender will normally accept your deed in lieu of foreclosure request if you're 2-3 months delinquent on your mortgage payments. Nevertheless, as you're facing hardship right now, you should apply for a deed in lieu of foreclosure and try to convince him to accept the same. Feel free to ask if you've further queries. Sussane

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