Question Details

Mike Kelly &…, Real Estate Pro in Santa Rosa, CA

Those Realtors doing "Short-Sales"-Seeing Deed in Lieu happening at all?

Asked by Mike Kelly & Allison Norman, Santa Rosa, CA Mon Dec 10, 2007

I've had more Sellers come to me wishing to place their homes on the market at ridiculously high prices as their lender told them they'd do a deed in Lieu instead of going through the foreclosure process. They have to try and sell the home for 60 days before they'll do this. This is in California--Deeds of Trust-no mortgages.

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6
Hello Michael,
We have posted detailed information on our website regarding deed in lieu scenarios vs. short sales. Interested homeowners seeking accurate information on the Short Sale & Deed-In-Lieu process can download a free report. This will enable them to better understand the details and consequences of two dignified solutions to an upside-down mortgage situation. Our team specializes in Short Sales and assisting homeowners in Ventura County, CA, including the cities of Camarillo, Fillmore, Moorpark, Newbury Park Oak Park, Ojai, Oxnard, Piru, Port Hueneme, Santa Paula, Simi Valley, Somis, Thousand Oaks, Ventura, Westlake Village and Leisure Village.
0 votes Thank Flag Link Sat Apr 3, 2010
Some lenders will accept a deed in lieu. The homeowner has to have only one mortgage
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Thu Dec 3, 2009
We're seeing more deed in lieu's happening right now for home owners. Short Sales are still the best bet
0 votes Thank Flag Link Thu May 14, 2009
I have several short sales in negotiation....not one lender has yeat accepted a deed in lieu of....I have worked with National City, Wilshire Mortgage, EMC, HSBC, and others to no avail. Good luck!
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Mon Dec 10, 2007
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
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0 votes Thank Flag Link Mon Dec 10, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
A "deed in lieu of" is the same as a foreclosure as far as credit reporting is concerned. I would let it go to sale before I would do a "deed in lieu of"

I would try to negotiate the short sale and even stipulate that the reporting state that the note was paid as agreed, banks are pretty negotiable these days.
0 votes Thank Flag Link Mon Dec 10, 2007
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