Posted on: 19th Nov, 2009 05:44 pm
i am planning on a dil of foreclosure, i am about 3 weeks late on my mortgage payment and i received a call from citimortgage today. i told them that due to financial difficulties and not being able to find a renter for my rental that i could no longer make the payments and would be interested in a dil. they sent me to lost mitigation, the person from lost mitigation said he would e mail me some forms to fill out, which he did. the forms include complete financial statements to be filled out. is it a good idea to give them that information for a dil? i talked to an attorney in the past and he told me not to give them any financial info and to tell them that my financials haven't changed since i took the loan out 4 years ago. any thoughts on how to get a deed in lieu of foreclosure. thanks
Hi unclebuck,
The lender will check out your financial situation based on the information you provide them by filling out the forms. If the lender finds that you make enough money to pay off the mortgage, then they won't approve your deed in lieu of foreclosure request. Rather, they would ask you to pay off the loan or ask you to apply for a loan modification.
Thanks
The lender will check out your financial situation based on the information you provide them by filling out the forms. If the lender finds that you make enough money to pay off the mortgage, then they won't approve your deed in lieu of foreclosure request. Rather, they would ask you to pay off the loan or ask you to apply for a loan modification.
Thanks