deed in lieu of foreclosure: How To Avoid Foreclosure - Avoiding Foreclosure - Tips - 03/13/10 06:40 PM
Many people are having trouble keeping up with their mortgage payments and/or have received a notice from the lender asking to be contacted. If this happens to you, then you should follow these steps carefully to avoid foreclosure...
First of all, never ignore the letters from your lender. Contact your lender immediately to try to resolve the problem. Contact a HUD approved housing counseling agency Toll Free (800) 569-4287
If you are unable to make your mortgage payment:
1. Don't ignore the problem. 2. Contact your lender as soon as you realize that you have a problem. 3. … (2 comments)
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deed in lieu of foreclosure: Deed In Lieu - Is it for you? - 12/14/09 02:46 PM
What is a Deed In Lieu? How does a Deed In Lieu Work? Tax Implications? How will a deed in lieu impact your credit scores? How soon after can you apply for another mortgage?
Deed in lieu of foreclosure is a process in which you give away your property to the lender because you just can no longer make your payments. In exchange, the lender essentially cancels your loan and you are no longer responsible for the mortgage.
The process....
When you apply for a deed in lieu of foreclosure, you will need to sign an "Agreement In Lieu Of Foreclosure", a "Warranty deed" and a "quit … (5 comments)
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