Fannie Mae will be launching a program called Deed In Lieu Plus
The the DIL Plus program is a Fannie Mae foreclosure alternative program. Its goal is to identify and proactively contact borrowers most likely headed for foreclosure through vendors with a wide real estate broker network, such as RE/MAX.
The DIL+ Program targets borrowers who are more than six months delinquent on their mortgage payments and who have not qualified for, or responded to, a HAMP loan modification and the property is not listed for sale. This program is being launched in just a few regions in the country. The DIL+ Program gives these homeowners the option of a "graceful exit" with assistance of an experienced real estate agent from RE/MAX.
The home owners may qualify for $3000 in relocation assistance and a deed in lieu of foreclosure.
During the qualification process the home owner will be able to live in the home for FREE.
The new program will benefit all parties from the lenders to the home owner.
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