Posted on: 07th May, 2010 08:02 am
we got military orders to go overseas and we put our house on the market. i called the bank to ask what happens if our house does not sell by december when we have to be there? i asked what my options are and she said that to do a deed in leiu of our house had to be listed for at least 90 days on the market, but i hear other people had to be behind on thier payments in order to do the lieu and we have always paid over the minimums and on time. is doing a deed in lieu of foreclosure my only option? and do we have to be behind in our payments to do it?
Hi jennej,
As you want to sell off the property due to relocation, I don't think you will have to be delinquent on your mortgage payments in order to get a deed in lieu of foreclosure. I would suggest you to contact your lender and check out whether or not you'll have to be delinquent on the payments. He will be the best person to let you know in this matter.
Thanks
As you want to sell off the property due to relocation, I don't think you will have to be delinquent on your mortgage payments in order to get a deed in lieu of foreclosure. I would suggest you to contact your lender and check out whether or not you'll have to be delinquent on the payments. He will be the best person to let you know in this matter.
Thanks