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If you have some money in savings, can the lender take that if you do a deed in lieu?

Posted on: 06th Nov, 2009 09:25 pm
My husband passed away this year. I have received some insurance money. But, I no longer can afford the monthly mortgage. What will happen to the insurance money?
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In a deed in lieu, you are not liable to pay the deficient amount to the lender. Thus, the lender will not garnish your savings account in order to recover his dues.

Sussane
Posted on: 06th Nov, 2009 11:39 pm
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