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irvine terrace: DEEDS-IN-LIEU GAIN FAVOR WITH LENDERS AS ALTERNATIVE TO FORECLOSURE
- 07/17/10 05:40 AM
By Kenneth R. Harney
June 27, 2010
Reporting from Washington
Short sales have been the hot solution for financially stressed homeowners and their lenders for the last year, but here's another potent foreclosure alternative that's about to take center stage: deeds-in-lieu.
Some of the largest mortgage servicers and lenders in the country are gearing up campaigns to reach out to borrowers who owe more on their mortgages than their homes are worth with cash incentives that sometimes range into five figures, plus a simple message: Let's bypass all the time-consuming hassles of short sales and foreclosures. Just deed us the title … (2 comments)
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By Kenneth R. Harney
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