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have you done a deed in lieu? What was your experience

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Asked by lilxblink82 at 7:10 PM on Jan. 24, 2011 in Money & Work

Level 8 (240 Credits)
Answers (2)
  • We almost got to that point but never had to. We understood that we would have signed the property over to the bank and that would have ended our obligation.

    Answer by elizabr at 7:41 PM on Jan. 24, 2011

  • No I haven't. It's a deed in lieu of foreclosure right?

    I do know it's a lot better for both you and the bank rather than going through a foreclosure. Plus they can't come after you for the difference unless otherwise stated. Just make sure you read all the information they give you.

    Sorry you are going through this. Good luck!

    Answer by Erica_Smerica at 2:42 PM on Jan. 25, 2011

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