Posted on: 23rd Jan, 2011 07:55 am
Can you do DIL of foreclosure when there are other persons on the deed who are not on the mortgage note?
hi lindita,
the person whose name is on the mortgage can apply for a deed in lieu of foreclosure in order to get rid of the mortgage and the property. however, as the property has to be surrendered to the lender, the other owners of the property should be ready to sign the property deed.
thanks
the person whose name is on the mortgage can apply for a deed in lieu of foreclosure in order to get rid of the mortgage and the property. however, as the property has to be surrendered to the lender, the other owners of the property should be ready to sign the property deed.
thanks