Posted on: 03rd Jan, 2009 03:39 pm
can a lender take over my assets if i file for a deed in lieu of foreclosure?...i was relocated for my job over a year ago and am holding two mortgages because i was unable to sell my original primary residence. my lender has qualified me for a deed in lieu on the property where i no longer live. can they attach a lien or claim my current residence if i go through with the deed in lieu for my old property?
Hi tessaiacoboni!
Welcome to forums!
No, the lender will not attach a lien to your other properties if you go for a deed in lieu. In case of a deed in lieu, the lender will forgive the deficient amount resulting from the sale of the property.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
No, the lender will not attach a lien to your other properties if you go for a deed in lieu. In case of a deed in lieu, the lender will forgive the deficient amount resulting from the sale of the property.
Feel free to ask if you have further queries.
Sussane