Posted on: 08th Feb, 2011 10:25 am
Can I do a Deed in lieu, in Florida on a condo that is not my primary residence?
Frank
Frank
Rock, that is a question to be posed to your lender. If they'll agree to the DIL, then you can certainly do it. It's truly up to them.
As stated in the HAMP directive the lender may ask you to try to sell the property before even considering a deed in lieu. It is always subject to the investors approval and their guidelines. If you simply do not want to the property any more there are options to possible have the tenants rent the home back from the bank, if owned by Fannie Mae. You can go to the Making Home Affordable website and see if your home is owned by Fannie Mae click on loan look up.
