Posted on: 04th Aug, 2010 03:51 pm
i am living in a home in washington state. our mortgage payments are not in arrears nor are there any late payments of any kind. however, i lost my job due to lay off a year ago and am on unemployment. now it appears my wife may loose hers shortly. can i turn my home back on a deed in lieu of foreclosure to my bank (citibank). our equity if sold would be next to nothing as the housing market as made the value very close to what we still owe on the mortgage.
thank you.
thank you.
Hi sss!
Welcome to forums!
A lender will normally accept your deed in lieu of foreclosure request if you're 2-3 months delinquent on your mortgage payments. Nevertheless, as you're facing hardship right now, you should apply for a deed in lieu of foreclosure and try to convince him to accept the same.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A lender will normally accept your deed in lieu of foreclosure request if you're 2-3 months delinquent on your mortgage payments. Nevertheless, as you're facing hardship right now, you should apply for a deed in lieu of foreclosure and try to convince him to accept the same.
Feel free to ask if you've further queries.
Sussane