Deed In Lieu All Locations : Advice

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Lisa Schile…, Real Estate Pro in Windsor, CT
Lisa Schile Orme answered:
How long does it take to be per approved? I am in need of a house house is about to be forecl ...
Unfortunately with a foreclosure on your credit record, you probably won't be able to get approved for another mortgage for several years. Almost any alternative to foreclosure includi ... more
0 votes Share Flag Fri Feb 15, 2013 Home Buying in Glastonbury
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Foreclosure or Deed In Lieu after Chapter 7 Bankruptcy
It'll only take another hit if the mortgage reports the foreclosure/deed-in-lieu... as foreclosures & deed-in-lieu of foreclosures do not appear in the "public records" section of a cre ... more
0 votes Share Flag Sun Aug 18, 2013 Foreclosure in 92592
Guy Gimenez…, Real Estate Pro in 78704
Guy Gimenez ABR, CRS, GRI answered:
Borrower has defaulted on a hard money loan. $112K interest. What are typical trustee fees to handle the foreclosure? Thanks for all input.
Is there no way to convince them to do a deed-in-lieu? It would be much less expensive and much more timely. Fees can range dramatically but make sure your attorney helps you follow th ... more
0 votes Share Flag Sun Jan 13, 2013 Foreclosure in Austin
Michael Cheng, Real Estate Pro in San Jose, CA
Michael Cheng answered:
How do you get a Deed-in-Lieu of Foreclosure?
Trulia, your question is making less sense than usual. You can file for a deed-in-lieu with your lender. It's not anything you can get.
0 votes Share Flag Sun Jan 13, 2013 Foreclosure in Brooklyn
Karen Paytas, Real Estate Pro in Macomb County, MI
Karen Paytas answered:
Who is responsible for past due HOA dues once a condo is foreclosed.?
The HOA fees will become a lien on the property. You can still do a cash for keys and waive your redemption period.
Talk to an attorney about legsl issues. since as realtors we canno ... more
0 votes Share Flag Wed Jan 9, 2013 Foreclosure in Michigan
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
what can one do when all options are exhausted and home is being foreclosed?
Hi Soic1,

If all options have been exhausted - short sale, deed in lieu of foreclosure, loan modification - and foreclosure is still eminent, then you need to find another home to li ... more
0 votes Share Flag Wed Jan 9, 2013 Foreclosure in North Carolina
Carl Henker, Real Estate Pro in 95928
Carl Henker answered:
We have a deed in lieu and need help with FHA
Unfortunately the date of transfer back to the bank will be the start of the 3 year FHA time frame. Although your BK date is prior to that, the date on the transfer deed is what will b ... more
0 votes Share Flag Tue Jan 15, 2013 Financing in 80909
Jim Fishinger, Real Estate Pro in San Diego, CA
Jim Fishinger answered:
I am a tenent in a home in San Diego and I got a notice of trustee's sale.
If you have a lease you are protected and can stay out your lease term regardless of who the owner is. You will need to pay rent to the bank if they acquire the property. They will pro ... more
0 votes Share Flag Wed Jan 9, 2013 Foreclosure in 92128
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Home was part of the Ch. 13 in which we were to surrender home. Not foreclosed (6 yrs later). Can I quit clai ...
In general, in the situation where you've had a BK & a mortgage was included, when you apply for new mortgage financing the underwriter is going to review the BK paperwork and see the m ... more
0 votes Share Flag Sun Feb 17, 2013 Financing in Sherman Oaks
John Bates, Real Estate Pro in 60540
John Bates answered:
any ideas to help me stay longer in this home to save money if i cant modify.?
Do you have equity in the home? Could it be sold for more than what is owed? I would be happy to take a look at the home to give you an idea of value. I can also give you ideas of the t ... more
0 votes Share Flag Mon Mar 25, 2013 Foreclosure in 60586
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
can i buy a home .i just went bank rupt a over a year ago .and i have a steady job been working there for 18 years why cant i buy a home even if i pa
When you talked to Attorney about filing BK, you surely were told the consequences:
It is not just a matter of your Credit Score, but the Lenders will give you a "time out".

Good lu ... more
0 votes Share Flag Tue Feb 11, 2014 Home Buying in Central City/ Liberty Wells
Suzanne MacD…, Real Estate Pro in 07856
Suzanne MacDowell answered:
Short Sale Denied Twice.... Any Other Options?
You could try a deed in lieu of foreclosure. Basically, you give the house back to the bank, sign the deed over to them and let them sell it as a bank owned home.

Do you know if y ... more
0 votes Share Flag Fri Dec 28, 2012 Home Selling
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
My Roomate just recently went thru a divorce and is currently not marketing any mortgage payments on his 3 bedroom 1 1/2 bath single car garage home
Your roommate needs to speak with someone right away, while all the options are on the table. A short sale may be the best thing; it's less damaging to their credit and allo ... more
0 votes Share Flag Fri Dec 28, 2012 Home Selling in Bellingham
Joseph Domino, Real Estate Pro in Scottsdale, AZ
Joseph Domino answered:
Insolvency on a short sale?
Well this appears to be question, but not sure which direction you are going. Basically, claiming insolvency after a short sale, to avoid taxes, occurrs when your debt is greater than ... more
0 votes Share Flag Sun Dec 30, 2012 Home Buying in Jacksonville
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
I have a house in Capital Village in Rancho Cordova. I have options to keep it for a couple of years or ...
It will depend on your long term goals;
Also, on whether you can afford the Monthly Vig:
If you can afford it, and the Mortgage is about the same as you would pay for rent,
Why not j ... more
0 votes Share Flag Sun Feb 3, 2013 Market Conditions in Rancho Cordova
Ronda Good, Real Estate Pro in 65804
Ronda Good answered:
Poor credit scores!
Thanks for contacting me. I do have someone in mind that can help you with your credit scores and can help you get into a home. If your interested, please give me a call and we'l ... more
0 votes Share Flag Sun Jan 20, 2013 Home Buying in Fresno
Paul McIntyre, Real Estate Pro in Portage, MI
Paul McIntyre answered:
I bought my home in 2006 in Milwwod, the appraisal is approximately $14,000 less than what I owe, is it a ...
Without seeing the property it is hard to give a definitive answer, but I can give some broad statements that reflect your situation.

Milwood was disproportionately affected by the ... more
0 votes Share Flag Sun Dec 23, 2012 Home Selling in Kalamazoo
Karl Mengers, Real Estate Pro in Mustang, OK
Karl Mengers answered:
I don't have "a lot of equity" in my house and was wondering if there is a rule about short sales in oklaho ...
Yes, relocation is definitely a qualifying hardship. Working your Short Sale properly requires a unique set of skills in today's market. As a CDPE (Certified Distressed Property Expert ... more
0 votes Share Flag Mon Dec 17, 2012 Home Selling in 73112
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
Owner financing
Seek the advise fro a lawyer to protect yourself and do it correctly. It will make a difference in how it is set up now as to how to proceed and they can best advise. You will need a ne ... more
0 votes Share Flag Thu Dec 13, 2012 Financing in Massachusetts
Mike Knoll, Real Estate Pro in Palm Springs, CA
Mike Knoll answered:
how long it takes someone who did a short sale to buy a new home?
The generally accepted answer to this question is 2 years. However, I am aware of situations where the time has been less when other credit is excellent and the person's situation has ... more
0 votes Share Flag Sun Apr 14, 2013 Home Buying in 63129
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