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

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

Help the community by answering this question:

+ web reference
Web reference:


Jessica Hood…, Agent, Gambrills, MD
Fri Jun 22, 2012
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
David Hepp, Agent, Lebanon, PA
Mon Jun 18, 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
Search Advice
Ask our community a question

Email me when…

Learn more