Deed in Lieu of Foreclosure

Posted in Creative Real Estate Discussions
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  • Remy Doman
    August 28, 2009 at 12:42 pm
    Remy Doman

    I would appreciate some help with this topic. I have a Homeowner who has 5 upside down properties. We were going to help him short sale his properties, but he is wondering if he should use the “Deed in Lieu,” Short Sale or just let the homes foreclose.

    Anonymous
    August 30, 2009 at 8:20 am
    Anonymous

    The owner of the properties needs to talk to the lenders directly.

    Some lenders will modify the loan so a short sale or a deed in lieu is not necessary.

    If they won’t then you can only do a short sale if there are ready, willing and able buyers who can get a loan to buy.
    This is getting harder and harder these days.

    To avoid all the headaches and hassles, just do a deed in lieu – THEN MOVE ON.

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