dlogan
Jul 19, 2008, 04:36 AM
Howw do I get this process started?
George_1950
Jul 19, 2008, 05:27 AM
Your lender must agree; write it a letter. Check this: Deed-In-Lieu Frequently Asked Questions - HUD (http://www.hud.gov/offices/hsg/sfh/nsc/faqdil.cfm)
Fr_Chuck
Jul 19, 2008, 07:50 AM
How long has the home been for sale, many lenders require 3 to 6 months of being listed with a realitor before they will even discuss it.
But it will be up to the lender, you can merely ask them I had many turned down last year. Many lenders will have a budget paper work you have to file out to prove to them you don't have the money to pay them. Many banks are foreclose instead.