mortgage: What does a deed in lieu of foreclosure mean mean in Florida?
- 05/20/08 03:27 PM
If you have incurred a long term financial hardship and your house has been on the market (at fair market value) for at least 60-90 days, you may be eligible for a deed-in lieu of foreclosure. To be considered for this option, you must complete a financial package and provide a copy of your recent active listing agreement. Also, there cannot be any additional claims or liens (other the mortgage) against the property. If you are approved for a deed-in-lieu, you will be giving up all rights to the property and the property will be conveyed to your investor. In exchange … (1 comments)
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If you have incurred a long term financial hardship and your house has been on the market (at fair market value) for at least 60-90 days, you may be eligible for a deed-in lieu of foreclosure. To be considered for this option, you must complete a financial package and provide a copy of your recent active listing agreement. Also, there cannot be any additional claims or liens (other the mortgage) against the property. If you are approved for a deed-in-lieu, you will be giving up all rights to the property and the property will be conveyed to your investor. In exchange … (1 comments)
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