Foreclosure in 17046>Question Details

dennisnasty65, Home Owner in Lebanon, PA

doyou have to go into forclosure in order to do a deed in lieu?

Asked by dennisnasty65, Lebanon, PA Mon Jun 18, 2012

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2
No, in lieu basically means instead of foreclosure. So there never is a foreclosure process. You willingly sign your home over to the bank.
0 votes Thank Flag Link Fri Jun 22, 2012
No you can do a deed in lieu with the mortgage holder if they agree to do it.
But it will still be counted as a foreclosure on your credit record.
You may be able to do a short sale and not affect your credit as much as the foreclosre will.
I can meet with you to discuss the diffrent options available too you.
0 votes Thank Flag Link Mon Jun 18, 2012
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