Posted on: 15th May, 2009 09:32 am
What kind of fees and/or charges might I be liable for in a DIL?
Hi PA mom,
As a borrower you do not have to pay too much of fees for a deed in lieu. It is actually a better option than a regular foreclosure for both the lender and the borrower as it can save considerable amount of money that could well have been spent on attorney fees and court charges during the foreclosure procedure. You should talk with the lender to get an idea of the costs that you may have to pay for the DIL.
As a borrower you do not have to pay too much of fees for a deed in lieu. It is actually a better option than a regular foreclosure for both the lender and the borrower as it can save considerable amount of money that could well have been spent on attorney fees and court charges during the foreclosure procedure. You should talk with the lender to get an idea of the costs that you may have to pay for the DIL.
Well PAmom, I'm not sure of what fees you may be charged. It depends upon the lender you're dealing with. But there's the deed tax which you need to pay for when you go for a deed in lieu foreclosure.
May god bless you.
Samantha
May god bless you.
Samantha
