How likely is it that our lender will agree to help us get a deed-in-lieu?

Asked by ks82, Cordova, TN Sun Jan 18, 2009

When we called to explain our situation to our lender, the rep told us to put the house on the market for 90 days, and if it didn't sell for 200,000 in 90 days, they would help us get a deed-in-lieu- after getting all of our financial info. Our house is on the market, but we are nervous our lender won't make good on helping us. At this point, we are about 30 days in default, and will be able to hopefully only stay a month behind. The reason for the default was a reduction in my husband's income.

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