Does a Deed in lieu work if you have a 2nd mortgage on the home also

hi burgsfour!

welcome to forums!

though you go for an deed in lieu of foreclosure on your first mortgage, you'll still be liable for the second mortgage dues. the second lender will have the right to recover the mortgage dues from you. if you can't pay the second mortgage dues, the lender will then charge off the loan.

feel free to ask if you have further queries.

sussane

Most of the lenders may not want to go for Deed in lieu when you have second mortgage. it makes them responsible for the second.

Good luck and feel free to ask any questions.