Deed-in-lieu of foreclosure
Posted by Ward-CA- on November 16, 2003 at 02:29:00:
In Reply to: deed in lew of foreclosure posted by dorothy gafford on November 15, 2003 at 16:39:24:
: just went thru bancruptcy owe on some property that was discharged i am not living in the house the lender wants me to sign a deed in lew of foreclosure: in okla i can't pay for this property what should i do ? are there any repurcussions later if i sign this?===========
Dorothy,
A deed-in-lieu of foreclosure would save you from going through a foreclosure and all that entails. Make sure the lender waives any right or reimbursement from you for any deficiency they might suffer in the final disposition of the property.
Hope this helps.
