Posted on: 14th May, 2010 09:20 am
what type of wording/language is needed in a grant deed in lieu of foreclosure that eliminates me from title and mortgage obligations?
Hi pameladmm,
In case of a deed in lieu of foreclosure, you won't be liable for the deficient balance resulting from the sale of the property. The lender forgives the dues. I don't think you would require a special deed for this purpose.
In case of a deed in lieu of foreclosure, you won't be liable for the deficient balance resulting from the sale of the property. The lender forgives the dues. I don't think you would require a special deed for this purpose.