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I need to know how to start or the procedure of a [url=http://www.mortgagefit.com/deed-lieu.html]Deed in Lieu of Foreclosure[/url].
I have a home I am not living in, I have been trying to sell it for several months. I can no longer make the payments. I have been charging my credit cards. I have a first and second with the same lender. The total dept is what I have been trying to sell it for with no luck. I am going to have to foreclose, file bancruptcy, or something.
I have another home I am buying that I am living in and can continue to pay for that one. I need to get rid of the first house and it\'s debt.

Any HELP?
Thank you

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi,

You can ask the lender, he can tell you the exact procedure.

Like | Dislike | Share | Posted: Fri, 09/29/2006 - 06:10 | Post subject:

colin's picture
colin | Joined: June 30, 2006 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Csaubrey,

You can read this article for more information about the actual procedure that is followed in deed in lieu of foreclosure.

Thanks
Colin

Like | Dislike | Share | Posted: Fri, 09/29/2006 - 13:18 | Post subject:

Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Csaubrey,

The deed-in-lieu process may vary from one lender to another depending upon the laws in a particular state. For a general overview of the procees, go through a previous discussion on Steps in Deed-in-lieu.

Thanks,

Caron.

Like | Dislike | Share | Posted: Tue, 10/03/2006 - 02:19 | Post subject:

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