Posted on: 09th Sep, 2010 08:07 pm
i lost my job as well as my husband. i have a home and i file for mortgage modification in march. the mortgage company continued to delay the process until august 2010. i received a letter stating that the home is going to go into foreclosure. it will be auctioned in october 3, 2010. can i apply for a deed in lieu of foreclosure and leave the home? what can i do? i tried to do a loan modification but the mortgage company delayed all year long (6 months)?
Hi prkelton,
You can apply for a deed in lieu of foreclosure in order to get rid of your property. You should contact the lender and apply for the same. If the lender is convinced by your financial hardship, he will consider your situation and grant you a deed in lieu of foreclosure.
You can apply for a deed in lieu of foreclosure in order to get rid of your property. You should contact the lender and apply for the same. If the lender is convinced by your financial hardship, he will consider your situation and grant you a deed in lieu of foreclosure.