Posted on: 30th Sep, 2010 09:51 am
after 9 months of discussions with my mortgage company, they have finally said that i qualify for a deed in lieu on a home which i own but do not live in. however, in order to qualify for the deed in lieu, they are asking for over $10K from me otherwise the property will go into foreclosure. i am 60 years old and really don't need to own a home. i live on a small pension and don't really have the money to give them without emptying a substantial part of my retirement savings account. what's your best advice? thanks.
hi madpenguin,
the lenders cannot charge you money for a deed in lieu of foreclosure. as you have a hardship, you should let the lender know about it and ask him to not charge you the money for a deed in lieu of foreclosure.
thanks
the lenders cannot charge you money for a deed in lieu of foreclosure. as you have a hardship, you should let the lender know about it and ask him to not charge you the money for a deed in lieu of foreclosure.
thanks