Posted on: 24th Aug, 2009 04:54 pm
Hi, My mother has alzheimer, she is 73 and retired. She's not behind in the morgage however, all her other bills are behind and late payments. I have power of attorney and want to move her to a senior apartment. The house needs repairs and she barely have enough after the morgage to buy groceries. How do I get started with the DIL and who is a good person or company to do this thru. I don't have a clue......Please help! And is this a good enough reason for the DIL? THanks
Hi Guest!
Welcome to forums!
You will have to contact the lender in order to go ahead with the process of deed in lieu of foreclosure. However, you've mentioned that your mother is current on her mortgage payments. In such a situation, I don't think the lender would consider your request for a deed in lieu. The lender generally considers this offer only when the borrower is delinquent on the mortgage payments. However, you should always try to negotiate with the lender and convince him about your mother's situation. If the lender is convinced, then he may accept your request.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to contact the lender in order to go ahead with the process of deed in lieu of foreclosure. However, you've mentioned that your mother is current on her mortgage payments. In such a situation, I don't think the lender would consider your request for a deed in lieu. The lender generally considers this offer only when the borrower is delinquent on the mortgage payments. However, you should always try to negotiate with the lender and convince him about your mother's situation. If the lender is convinced, then he may accept your request.
Feel free to ask if you've further queries.
Sussane