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How long does a deed-in-lieu process take?

how long does a deed in lieu take and can a foreclosure cause a garnishment?

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

Hi Whrabowski,

A deed-in-lieu of foreclosure needs to be completed within a period of 90 days after it starts off.

Thanks
Monroesque

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blue's picture
blue | Joined: October 21, 2005 09:17 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi,

You can read this article for more information about deed in lieu which can be used to avoid foreclosure.

Thanks
Blue

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

Hi Whrabowski,

If the foreclosure sale of the property results in an outstanding balance remaining on the mortgage, the lender may pursue a deficiency judgment. Then the court can authorize a lender to collect part of the outstanding debt by way of deficiency judgment.

The lender can then follow all available collection options like garnishment or execution on other personal property.

Thanks
Colin

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

what is the advantage of a deed in lieu over a short sale

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Ray,

Welcome to the forum.

First of all lenders do not always agree for deed in lieu. DIL even effects more than short sale. The only advantage of DIL over short sale is that you need not to pay deficiency judgment.

There is an article regarding Deed in lieu. You can check this out- http://www.mortgagefit.com/deed-lieu.html

Feel free if you have any further questions.

Best of luck,
Larry

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

How long will the borrower be able to stay in home once the DIL has been processed?

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello Lynn,

The laws vary with the state but once the processing has started, the property is owned by the lender and he might evict you any time. Your lender will give you an eviction notice which should tell you about the time you have. It is usually 30 days but that varies from state to state.

If you tell the place where you live, I might help you with the laws of your state.

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lisa.scherzer's picture
lisa.scherzer | Joined: January 4, 2008 08:48 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

If the home is foreclosed on and sold at auction for less than you owe then it can create a deficiency judgement for the difference. As with any judgement they could end up garnishing your wages at some point. If you choose to file a chapter 7 then this can be included in the BK. A [url=http://www.mortgagefit.com/deed-lieu.html]deed in lieu of foreclosure[/url] will NOT create a deficiency. So depending on how much debt you have there are a couple of options to look at.

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

I am several payments behind on my mortgage. I contacted the mortgage company. I've been in touch with the mortgage company. Today they told me that I am in pre-foreclosure and that I can apply for a DIL.
Two questions: Is this worth doing?
Also, the property is in FL and I live in NY. How long will it take them to foreclose on a property in FL? I know that each state is different.
Thank you.

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

Hi Jackie,

In Florida it takes usually a period of 135 days to foreclose on a property. The time period starts from the day the lender files foreclosure and seeks court action.

Didn't your lender advise you to go for any repayment plan as such? How's the market there in your area? Are homes selling at their usual prices?

A deed in lieu will be ok for you as much as I understand. But there could be other options too. In case your lender does not get the sale price enough to cover the loan balance, he may not not file a deficiency judgment at the court. So, you need not make any payment towards it.

Regards,

Jessica

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

i am 100k in the hole and the lender is willing to do a forebearance agreement but that does not lock me into a rate permanently. i am thinking about foreclosing....will they try to sue me in california or with all the laws that have been passed is it more likely just to affect my credit

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi ken,

Welcome to the forum.

How much do you owe to the lender and how much is the appraised value of your property? Is it that the difference is $100k?

If the sell price is less than what you owe to the lender, he may claim the money and foreclosure will have a huge negative effect on your credit?

Why don't you go for Short sale? It will effect you credit much lesser than foreclosure.

There is an article on different ways to avoid foreclosure. You can check out this article at http://www.mortgagefit.com/foreclosure/17ways-avoid.html

Hope this will help you.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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

Hello,
I am in the same situation. I owe 530K on my home. My last appraisal was 650K back in April 07 when I refinanced. However due to market conditions, It would be great if it sells for 370K. The place is 60 miles from my work place and the commute is killing me. Also, I am expecting a baby in 2 months and want to stay close. I rented a place near my work place now. This thing is stressing me out. I havent fell behind on mortgage yet and I am thinking of stopping the payments. What are my options...forclosure or DIL, short sale? There are a lot fo houses in my area into forclosure and short sale but hardly any takers.. This is in Tracy, CA. I am with INGDirect bank. What are my options..

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

Hi Kish,

I've already replied to your query at http://www.mortgagefit.com/shortsale/stop-payments.html . Some other memebers have also given their suggestions. Please have a look at the page.

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Kish,

Welcome to the forum.

If you do not want this home any more then short sale is the best option to choose. So talk to the lender ASAP and try it out. It will not affect your credit much.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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

I have talked to my mortgage company regarding my inability to continue to pay my mortgage (currently @ 11%!). I have furnished them with all of the documentation they are requiring to review my account. They have suggestd a short sale or "[url=http://www.mortgagefit.com/deed-lieu.html]Deed in Lieu of Foreclosure[/url]". Which option is better for me? My house has been on the market for a year, with no offers. I have been unemployed for a year, and have depleted all of my other assets, including selling cars, other property, household items, etc.

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Elizabeth.

Welcome to the forum.

Short sale is a better option because it will affect your credit report much lesser than the deed in lieu of foreclosure and you can get approve for another home loan within 18 months after the short sale if you maintain your credit well.

BTW if you cannot short sale the property then go for deed in lieu. In that case if the lender accepts it then he will not come after you for the deficiency judgment.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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

My property is in Arizona - will they allow the lender to come after me with a deficiency judgment.

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Kelly.

Welcome to the forum.

I think Arizona is an anti deficiency state. So the lender cannot come after you for the deficiency judgment. But it does not apply for the [url=http://www.mortgagefit.com/second-mortgage.html]second mortgage[/url] or lien of equity. So the second mortgage lender can come after you for the deficiency judgment.

BTW if the lender accepts deed in lieu of foreclosure then he cannot come after you for the deficiency judgment.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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

Larry,

I have a qst about your post - are yousaying that if you so a short sale, the purchae money mortgage holder can't come after you for the deficiency, but a HELOAN for example could? Butm if you do deed in lieu, they can both come after you for the deficiency?

Thanks,

Robin

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larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Robin.

I am sorry if I have said anything wrong but as far as I know if the lender accepts the deed in lieu he cannot come after you for the deficiency. But if the second lien holder doesn’t accept the DIL then he can come after the deficiency and even plan lien on your other properties.

Hope an able to clarify it to you. Feel free to ask if you have further questions or doubts.

Best of luck,
Larry

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

Hi,
we are at least 200k upside down on our loan,we are not behind on our payments. we want to let the house go, so what are our best options? We are considering a short sale, deed in lieu, or if we have to we will let it foreclose. Are there any other options that would be better than any of these?

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

Hello bRENDA.

Try to sell out the property. if you cannot sell then request you bank to accept the deed in lieu as you cannot affod the payments any more and cannot even sell the property.

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

I worked for 40+ years and became disabled in Jan. 2006, approx a year after buying my Michigan home. After 24mo of no income and no health insurance I was granted SSDisability and Medicare. My income is half of what it used to be. In those 24 mo I exhausted all of my savings and cashed in my Roth IRA to make ends meet and pay medical bills. My current mortgage holder is Chase. I have completed a 3 month reduced payment forbearance period. I need to know what will happen next because my income will not change in the forseeable future. I have phoned Chase countless times and sent them 2 hardship letters. Every time I call I get a different person who claims to know nothing about my situation, the forbearance, or the hardship letters. What should I do next? Move to a subsidized apt.? Stay until they throw me out? I cannot afford a lawyer. Oh, my home has been listed with a realtor for 10 months with no buyers despite reducing the asking price from $85,000 to $80,000. I owe $72,000. I am desperate for some advice as I live alone with no support system to turn to. Thanks in advance.

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cliff3's picture
cliff3 | Joined: May 5, 2008 02:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello Annette,

Sorry to hear about your medical and financial issues that you are now facing.

You can still ask for a workout option with Chase.

Be sure that you ask to speak to someone in the [url=http://www.mortgagefit.com/loss-mitigation.html]Loss Mitigation[/url] Department. This is the department that can grant you and qualify you for other workout options to keep you in your home. These options do include a loan modification - based upon the fact that you have encountered a loss of income,etc... - (if you have an ARM, be sure to ask for them to put you on a lower fixed rate as well).

But make sure that you are speaking to a representative in the Loss Mitigation Department!! This is very important!! Ask for the person who is assigned to your file (it may be the same person who set up your temporary forbearance plan!)...Be sure to get the direct phone number and direct fax number for this person! This is the person you need to be communicating with at all times.

Usually by the time a homeowner has defaulted on 2-3 payments, a lender is likely to begin the Foreclosure process. You do not want this to happen.

Other workout options include a short sale (the lender will accept a sale offer on your home that is less than the amount of pay off you currently owe). Your Loss Mitigation representative will know what workout plans you will be able to qualify for. Keep in mind, that with a loan modification, your income will need to exceed your monthly expenses with a remaining surplus of about $200.00 a month.

You are welcome to visit home-buddies.com and review a free mortgage resolution guide there as well.

I hope that this information becomes very helpful to you. Please let us know what else we may try to help you with.

Good luck. :D

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

Hello, my husband and I purchased our home back in 2006. Since then I have gotten pregnant twice and have had two new children. Each time I was pregnant I was unable to work for at least 1 month and a half. Since I didn't work, I didn't get paid.This put us behind in all of our bills. My husband's job has decreased his salary, and I was just involved an extremely bad car accident in which our only vehicle was totaled. We let our lenders know and since then have tried everything from [url=http://www.mortgagefit.com/know-how/loan-modification.html]loan modifications[/url] to repayment plans. We have just not been able to catch up on the bills. We don't qualify for refinacing, but our lender was just bought out by one of the banks and are offering a home retention program to lenders with the type of loan we have. The only thing is that for our loan type they are only offering this program to you if the value of your home has went down due to the current decrease in the sell of houses. We were told that since we are behind in our mortgage by three months, pre-forclosure process may be initiated at any time. My lender will not begin to notify borrowers of their eligibility for the home retention program until December 1. My husband and I don't know what to do. We have looked into both short-sales and deed-in-leiu but know what to do. Do you have any advice you can give me? All is appreciated.

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Tiffany!

You can personally speak to the lender and tell him about the conditions you are facing and ask him if he could tell you about the new plan now. If your cause is genuine, he may tell you about the plan. You can even try renting your house, if that is possible for you.

In case, it doesn't work, you can either try for short sale or a deed in lieu foreclosure. Both the processes are more or less the same. You will have to give away the home to the lender and he will mark you a note stating that the loan is paid off. Then he will try selling the property in the market to recover the debt. Generally there remains a deficient amount which the lender may ask you to pay back in case of a short sale. However, in case of deed-in-lieu, this amount is forgiven but then you will have to pay taxes.

Thanks.

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

I am hearing so many different things Im not sure what to think. I asked my morgage company to do a deed in lieu but i heard if they take it and resell my house i wont have to pay the difference if it sells for less that i owe right now,but I talked to their customer service dept and she said if they actually sell the house for less they will come after me for the difference. I have been under the assumption that if they took the deed that will cancel the loan on my part.
does anyone know the right answer? I live in Ohio and its one of the states that the homes are just not selling right now. I got divorced and I just cant do it on my own.

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jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi beckey!

It depends on the lender whether he will forgive the deficient amount or not. In cases of deed-in-lieu, the lenders generally forgive the deficient amount. But in case of short sale, the lender has all the right to come after you for the deficient amount. You can speak to your lender and if your reason for not paying the debts satisfies the lender, he may forgive the deficient amount.

Thanks,

Jerry

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

How do you find out if your 1st and 2nd loans are recourse or non recourse? Both my 1st and 2nd (80/20 5/15yr arm) are with the same lender. I am current on both but tredding water!

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi James?!

To find whether your loan is recourse or non-recourse, you will have to go through your loan contract. This will be mentioned there. As far as deed-in-lieu foreclosure is concerned, it will take some time. Normally it takes around 90 days from the time of start off.

Thanks

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

My husband and I bought our condo in 2006 for $417K. We owe $340K, but the current market value of the condo is $320K. I have one child and will be giving birth to my second in about 3 weeks. I will not be working after I have my second child. My husband's job is relocating our entire family overseas in 6 months, for a period of 6 years, and there is no way that we will be able to afford our mortgage payments. The lender agreed to let us list our condo as a short-sale, and it has been on the market for the past 3 months. We haven't received any offers. Also, there are 13 other condo units listed in our neighborhood as short-sales! We have been current on our mortgage payments, however we will not be able to continue after this month. We are thinking of applying for a deed-in-lieu. What are the chances that the lender will accept a DIL? Is this the best way for us to go?

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adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome StressedMomma,

You can apply for a deed in lieu foreclosure with the lender but it will be the lender's description whether he will accept it or not. A deed in lieu is similar to a short sale. The only difference is that the lender will forgive the deficient amount resulting from the sale of the property. However, you will have to pay taxes on this forgiven amount. In my opinion it is quite a good option for you.

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

I am currently going through a divorce. I am 3 pmts behind and have recvd letter from mortage company re accelerance. 3 months ago I asked for help but they would not because I hade a perfect history now I;m behind and trying to qualify for a program. Because I have a fixed 6.5% rate FHA loan I can't seem to get any help. Which is worse a BK or DIL? Thank you

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cliff3's picture
cliff3 | Joined: May 5, 2008 02:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello ncoleman,

Sorry to hear about your current divorce and mortgage issue.

You still need to be talking to someone within the [url=http://www.mortgagefit.com/loss-mitigation.html]loss mitigation[/url] department of your lender. They have several workout options that you may qualify for to help keep your home. These options include a repayment plan (on the amounts that you are currently behind on), or a loan modification, forbearance, etc. You may not have to do a Deed in Lieu or a bankruptcy. Please check with them.

As far as which would be worse...they both are very damaging to your credit. A Deed in Lieu will drop your score by at least 150 points up to 250 points. A bankruptcy will drop your score by about 200 points. A foreclosure will drop the points by about 250 points.

I hope this will help you. Please let us know if you still have questions. You may visit home-buddies.com and review a free guide to help with mortgage issues.

Good Luck. :D

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

I owe almost $40,000.00 for the home loan which was just over $40,000.00 to start with.
I am unable to afford all of the repairs that the home would require to continue living in.
I have about $3000.00 equity in the home.
I have been doing research and I think the best solution is a "[url=http://www.mortgagefit.com/deed-lieu.html]deed in lieu of foreclosure[/url]".
What are the steps I need to take?
Thank you so much for any help!
Kim

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi faithinkainay,

A lender will accept a deed in lieu foreclosure only if you have defaulted on your payments for at least 1 month. You will have to apply for a deed in lieu foreclosure with the lender. You will have to write a hardship letter to the lender and tell him as to why you can't pay the mortgage. If the lender accepts the deed in lieu, you will have to sign away the property to the lender. The lender will then sell off the property in the market in order to recover the debts.

However there are chances that the sale of the property will result into a deficient amount. As you will filing a deed in lieu foreclosure, the lender will forgive the deficient amount. But you will have to pay taxes on this forgiven amount as it will be considered as your income. Moreover a deed in lieu foreclosure will also lower your credit score by 250 points. To know more about deed in lieu, check out the following link:
http://www.mortgagefit.com/deed-lieu.html

Wish you a Merry Christmas.

Thanks

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

can you stop making payments during the 3 month selling time for a short sale process in California

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adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome cam,

A short sale is approved by the lender only when you are deficient on the payments. So, I think you will not have to make the payments during those 3 months. You should speak to the lender and check out if he wants you to pay the dues or not.

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

i provided seller financing for a home i owned. the buyers defaulted on a 5,000. principal pmt last june. now, they want me to accept deed in lieu, but they owe me some back taxes and the 5,000. plus two mortgage pmts now. if i accept their deed in lieu, will i ever recoup my money?

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

by the way, the buyers still owe me 280,000. which in this economy i may never recoup.

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

i s old property and carried note of 100000.00 @ 6%. borrower cant pay

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savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

To betty,

If you are going to accept a deed in lieu, you are actually agreeing to accept an amount less than what is owed. Thus, you'll have to be satisfied with a lesser amount of money and there's little hope for you to recoup the deficient money.

To travis,

If the borrower can't pay there's little you can do about it in owner financing. But I think you can try and modify the existing loan in some way so the monthly payments are reduced and the borrower can afford to make the payments.

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

My daughter and son-in-law have fallen 2 months behind in their mortgage. They have been discussing DIL with their lender. They are not looking to stay in this home, they absolutely cannot afford to keep living there. They are looking to start fresh, and rent somewhere they can afford. Will they be responsible for repaying any money to the bank. Can they be garnishered? Should they obtain a lawyer? :( :(

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savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Kathy,

It's up to the lender whether they'll forgive the deficiency from the deed in lieu. In most cases, they forgive the difference. In case, they don't forgive the deficiency, your daughter and son in law will be responsible for it. The lender can sue them for non-payment or can garnish their wages. I think they should talk with the lender regarding this and check if they intend to sue for the deficiency.

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

DO I HAVE TO PAY ANY BALANCE IF I CHOOSE TO FORECLOSE AND IF SO DOES IT HAVE TO BE PAID OFF IN ONE LUMP SUM?

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi DORIS,

If your property is foreclosed on and the sale price does not cover the outstanding loan amount, you will be liable to pay off the deficiency. The lender can come after you for it, if you do not pay it off. They can sue you for non-payment. You do not have to pay it in a lump sum. If you want, you can talk with your lender and set up repayment plan to pay off the deficiency within a certain amount of time.

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

How hard is it to get a forbearance, we have been denied a loan modification and my husband is unemployed but we recently have started collecting social security

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adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi dif,

If the lender is convinced about your financial hardship, then you would be able to get a forbearance. You should contact your lender by writing a hardship letter and request him to consider your situation. Depending upon your financial situation, the lender may get ready to give you a forbearance.

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

I have a bankruptcy discharged about 6 months ago.....my house is in foreclosure. I am thinking of asking the lender to do a [url=http://www.mortgagefit.com/deed-lieu.html]Deed in lieu of foreclosure[/url]. My question is......Am I protected by the discharged from the deed taxes next year?? Please help. Thank you

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