Posted on: 26th Jan, 2009 07:51 am
is there a filled out sample of a "deed in lieu of foreclosure" form that i may view on line?...i have two mortgages on my property; both with countrywide. is there a term that i should use to be assured that the "deed" would cover both ortgages. i have heard of "without recourse" should be used. how should i handle this.
Hi cmcgee,
You must be having the mortgage docs for both the mortgages. You can know whether your loan is a recourse or non-recourse one from the mortgage docs. As far as deed in lieu is concerned, you will have to write a hardship letter to the lender and see if he accepts it or not. If the lender accepts it, he will tell you what you need to do.
You must be having the mortgage docs for both the mortgages. You can know whether your loan is a recourse or non-recourse one from the mortgage docs. As far as deed in lieu is concerned, you will have to write a hardship letter to the lender and see if he accepts it or not. If the lender accepts it, he will tell you what you need to do.