Posted on: 04th Aug, 2009 08:43 pm
I did paper work for a short sale and deed-in-lieu and received a foreclosure letter from an attorney. Can i just request a deed in lieu of forclosure instead
Hi Guest,
You can definitely request your lender to consider a deed in lieu or a short sale. I think, considering the cost involved in a foreclosure, a DIL or a short sale is always a better option for the lenders. But if your lender have already started foreclosure procedure on your property, they may not accept your request for DIL or short sale. But you should talk with them regarding this.
You can definitely request your lender to consider a deed in lieu or a short sale. I think, considering the cost involved in a foreclosure, a DIL or a short sale is always a better option for the lenders. But if your lender have already started foreclosure procedure on your property, they may not accept your request for DIL or short sale. But you should talk with them regarding this.
It is also not convenient for them to proceed with the foreclosure. Instead there should have been some specific reason why they took the step. Had any of the commuication was being done with the lender? If so, it would be an advantage. But the final decision lies with the lender only.