Can you share more details about the deed in lieu of forclosure requirements and process?

Banks dont really go by guidelines, I have found that they do what they want. They use a Net Present Value tool to figure which option makes the bank the most money. The government implemented programs to help the homeowners, such as loan mod, short sale, deed in lieu, but there is no one overseeing the banks and their actions. Bank of America for example, stopped foreclosures earlier, because they were being sued for illegal foreclosures. They are back at it, foreclosing, even when the system that failed the first time, has not been modified. Best advise, record every conversation. Write everything down and use a recorder to get the banks reps on tape. Follow up and follow up. Good luck

welcome khalihah_d,

to know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html