Deed In Lieu All Locations : Advice

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Frank Alters, Real Estate Pro in Fleming Island, FL
Frank Alters answered:
Bank delayed foreclosure for 18 months after we gave them keys to house with a deed in lieu request. When ca ...
Hi Geetaogale,

According to all the lenders I deal with, you have to wait three years after the foreclosure. That said, if there are circumstances, and a lender has time, you can wor ... more
0 votes Share Flag Sun Jun 1, 2014 Foreclosure in 32225
Daniel Alvar…, Real Estate Pro in Union City, NJ
Daniel Alvarez answered:
I'm doing a Deed In Lieu. How do I guarantee that the mortgage company will pay relocation funds and ...
Are you aware of the HAMP loan modification program?

If you were denied a HAMP loan modificaton then you'll likely qualify for HAFA (HAMP denial is a prerequisite in order to get a ... more
0 votes Share Flag Fri Oct 19, 2012 Foreclosure in 72118
Alan Martin, Real Estate Pro in 34786
Alan Martin answered:
My home is in foreclosure. I read that I can ask for keys for cash.When do I ask? Do I ask before the count ...
there are lots of options for a person whos home is in forclosure, short sale, re finance, deed in lieu. When I have been involved in cash for keys, the cash payment is only available ... more
0 votes Share Flag Mon Oct 22, 2012 Foreclosure in Davenport
Ann Ryan, Real Estate Pro in 33178
Ann Ryan answered:
Deed and Lieu in Florida - can it affect my husband?

Are you the only one listed on the loan? If you're the only one on the loan, than your income is what they'll come after. However, any joint property - savings, investme ... more
0 votes Share Flag Wed Oct 17, 2012 Foreclosure in Florida
Alan May, Real Estate Pro in 60201
Alan May answered:
Is it possible to sell home for less than what you owe and then borrow the difference just to get rid of home?
If you're borrowing the difference from your mother, then "yes". If you're planning on borrowing that amount from a traditional lender (ie: bank)... they'll want some sort of collatera ... more
0 votes Share Flag Thu Apr 3, 2014 Home Buying in 28562
Stephanie St…, Real Estate Pro in Oxford, MS
Stephanie Stewart answered:
Short-sale or deed-in-lieu of foreclosure?
Hi Bcamire,

I'd like to refer you to this article. It gives great information and advice.

... more
0 votes Share Flag Sun Jan 6, 2013 Home Selling in 38655
TOP END Prop…, Real Estate Pro in Orange, CT
TOP END Properties answered:
My mom owned a home with me and she passed away recently do I still have to show up to Foreclosure mediation?
You might not have an obligation, but the Probate proceeds might be negatively effected a great deal. Its usually recommended you try to work it out with the lender through a loan assu ... more
0 votes Share Flag Thu Oct 9, 2014 Foreclosure in 06357
Charles H Le…, Real Estate Pro in Chesapeake, VA
Charles H Lewis III answered:
Which is worse on credit? Deed in Lieu or a short sale?
Deed in lieu! The most damage is being past 90 days late but a deed in lieu is a friendly short sale.
0 votes Share Flag Wed Mar 26, 2014 Credit Score in 23322
Emily S. Kne…, Real Estate Pro in Huntington Beach, CA
Emily S. Knell answered:
How long does a voluntary foreclosure usually take in California?
Unfortunately is the Mortgage Debt Forgiveness Act is NOT extended for another year, you're damned if you do (complete the short sale) & damned if you don't (& let it go to foreclosure) ... more
0 votes Share Flag Mon Oct 8, 2012 Foreclosure in Culver City
Ray Wright, Real Estate Pro in 92506
Ray Wright answered:
Deed in lieu is there a way to guarantee that we would get relocation assistance to relocate? In writing b ...
Cash-for-keys (relocation assistance) is completed typically to get you to move out within a short period of time and leave the home free and clear of any trash or debris. There are ce ... more
0 votes Share Flag Tue Jan 15, 2013 Foreclosure in 92240
De Vonte Wil…, Real Estate Pro in Plainview, NY
De Vonte Williamson answered:
Purchasing Bank Owned Home in Copiague
Hey Nicole. If a Deed in Lieu was done, the chances are very slim that you will be able to "legally" purchase the property. In my experience, it all depends on the bank. You can contact ... more
0 votes Share Flag Sun Oct 7, 2012 Home Buying in Copiague
Cecelia Marl…, Real Estate Pro in Chicago, IL
Cecelia Marlow answered:
I have recently heard that a bank gave an owner in default $30k for a deed in lieu (not $3,000 from HAFA). Ha ...
Hi Cindy,
As a lender on the buyer side of a transaction, the seller to whom my client was buying from received $30,000 from his lender at closing. This was a short sale. Not sure ... more
0 votes Share Flag Thu Oct 4, 2012 Foreclosure in Illinois
Lester S.  , Real Estate Pro in Dupage County, IL
Lester S. answered:
I purchased a condo in '08 for $120k. I want to move. My property was priced at $70k...and I cant' ...
I am a Certified Short Sale Expert, call me to discuss your options.
0 votes Share Flag Wed Oct 3, 2012 Home Selling in 60188
Rich Homer, Real Estate Pro in 34108
Rich Homer answered:
Hi Need help getting back to the City of brotherly love
Best to look for a local Real Estate Broker under "Find a Pro in the header of this website.
0 votes Share Flag Sat Oct 6, 2012 Home Buying in Bella Vista/ Southwark
Angie Rowland, Real Estate Pro in Roseville, CA
Angie Rowland answered:
I have waited the 2 year period after my short sale. I have 20% to put down. Fannie Mae's underwriting program continues to tell us we are denied.
I am an agent and not a lender so please keep that in mind but I have ran into this problem with buyers in the past. In the case of my FHA buyers the issue was that the short sale was ... more
0 votes Share Flag Mon Feb 18, 2013 Home Buying in 60714
Keenan Drisc…, Real Estate Pro in Portland, OR
Keenan Driscoll answered:
Bank is changing terms of sale after closing date has come and gone
Do you have an agent representing you?
0 votes Share Flag Mon Feb 11, 2013 Home Buying in Portland
Paul Combits…, Real Estate Pro in Toms River, NJ
Paul Combitsis answered:
In it easier to get someone to rent to you if you had a short sale vs foreclosing?

There is no clear-cut answer, however, if you're simply asking about TRENDS and an "on the average" sort of answer, I would say the short sale. Someone could be in a short s ... more
0 votes Share Flag Thu Oct 4, 2012 Rental Basics in 08753
Jeanne Feeni…, Real Estate Pro in Basking Ridge, NJ
Jeanne Feenick (908) 337-0943 answered:
Is it hard to rent after a foreclosure and bankruptcy ch7?
It is more difficult. I've worked with some folks in your shoes and it has helped to "tell the story" - so that the credit report does not stand alone. Work with an agency that has th ... more
0 votes Share Flag Sat Aug 3, 2013 Foreclosure in 08753
Carla Pennin…, Real Estate Pro in Georgetown, TX
Carla Pennington, Realtor(R) answered:
I plan on renting in about 1-2 years. I have a large family and a dog? Will it be a problem to find a ho ...
You can't be discriminated against because of the size of your family, except that the property code here says that there can be no more than two people to a bedroom on the lease. But ... more
0 votes Share Flag Fri Nov 23, 2012 Rental Basics in 08753
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Once Im farther into the foreclosure process can I change my mind and do a short sale if I weaken and decide its all too much?
This would be a good question for your Bank's LOSS MITIGATION DEPARTMENT; not us.
You may not have any choice in the matter.
0 votes Share Flag Mon Oct 1, 2012 Foreclosure in 08753
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