Posted on: 15th Jun, 2010 03:06 pm
hi,
i have a home equity loan on my property. it is the only loan and i have no other mortgages. i owe 116,000. it's probably worth 100,000
is it possible that i can do a deed in lieu of foreclosure.
thanks for any advice.
i have a home equity loan on my property. it is the only loan and i have no other mortgages. i owe 116,000. it's probably worth 100,000
is it possible that i can do a deed in lieu of foreclosure.
thanks for any advice.
Hi Dogspirit,
If you are unable to pay the dues and if you are already delinquent on your mortgage payments now, then you can definitely apply for a deed in lieu of foreclosure. However, it will be the lender's discretion whether or not he would agree to it.
Thanks
If you are unable to pay the dues and if you are already delinquent on your mortgage payments now, then you can definitely apply for a deed in lieu of foreclosure. However, it will be the lender's discretion whether or not he would agree to it.
Thanks