Posted on: 12th Mar, 2007 01:06 pm
i am in the middle of a deed in lieu of foreclosure, have not received any paperwork yet. someone has just made me an offer on the house. will the mortgage co accept the offer or is it to late because we have started the deed in lieu process????
If the amount from the sale is more than what the lender can expect to recover after taking it using a dil of foreclosure then he will usually agree. You should contact the lender as early as possible and ask whether it would be possible or not. Chances are that he will accept such an offer.
"Will the mortgage co accept the offer or is it to late because we have started the deed in lieu process????"
After getting the house through deed in lieu they have to spend some time looking for buyers for the house and if they accept your offer of their balance payoff from the sale of the house, they won't refuse.
After getting the house through deed in lieu they have to spend some time looking for buyers for the house and if they accept your offer of their balance payoff from the sale of the house, they won't refuse.
Hi Stella,
This will depend more upon the company. It is better if you can talk to the company about the offer. The company may allow you to accept the offer provided you are able to pay off the entire debt or at least more than what the lender can get through deed-in-lieu.
Thanks,
Sara
This will depend more upon the company. It is better if you can talk to the company about the offer. The company may allow you to accept the offer provided you are able to pay off the entire debt or at least more than what the lender can get through deed-in-lieu.
Thanks,
Sara