Foreclosure in Batavia>Question Details

Barbara Nico…, Home Buyer in Rochester, NY

Deeding property to bank w/deed in lieu and have DSS lien vs house. Does lien go to bak or is it forgiven?

Asked by Barbara Nicoll, Rochester, NY Thu Jan 13, 2011

My attorney suggests I give the property back to the bank via deed in lien of foreclosure. I have a DSS lien and wonder if that lien will be forgiven or will go with property. I can't pay the lien. Thank you!!

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Answers

3
1. Why are you listed as a "home buyer" here, when you are talking about a foreclosure? My interpretation of the situation is you are a "seller" not a "buyer."
2. Although I have personally seen this type of "Deed in Lieu of Foreclosure" agreement (as a Notary Public), I agree wholeheartedly with the other responders that this is a LEGAL question which your attorney needs to answer. If you don't trust your attorney get a second opinion in your local area from an attorney who practices in the County (and State) in which the property is situated. Every legal municipality has its own rules, standards of practice, and laws.
3. If you have a DSS lien and are under threat of foreclosure/legal action, you also need to locate another place to live. There are multiple companies in the Rochester NY who specialize in "low income housing" (keywords to add to your desired residence location in an internet search engine.)
4. Good luck!
0 votes Thank Flag Link Mon Feb 28, 2011
You need to follow your advice of your attorney. Who has full review of your property vs. virtual answer may not be to your benefit. Many more questions need answers.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Jan 13, 2011
Barbara, your question is really a legal question and any input from most of the voices on trulia is of Realtors or Brokers and not attorney's so one, it is very tough for "us" to legally answer this question and secondly have you asked your attorney this question? Thirdly, with the Deed in Lieu, is you attorney able to get some "value" for you? Many times with deeds in lieu the lender is willing to "pay" you for your kindness and not putting up a battle that is costly to them. If the lender is willing to give you money, say $3,000 then possibly you could put that towards the Mechanics Lien, and I am sure the lien holder for the DSS or Mechanics lien will settle, they all have when i ask for customers who i have helped short sale and deed in lieu. I hope that helps,.
Web Reference: http://www.house-guy.com
0 votes Thank Flag Link Thu Jan 13, 2011
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