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Posted by NJDave on April 21, 2005 at 16:57:31:
In Reply to: Deed in lieu of foreclosure posted by Melvia on April 21, 2005 at 12:52:57:
Despite what they may initially offer as an alternative to foreclosure, (first mortgage) lenders rarely accept a DIL. They'll want to first make certain that you've done everything in your power to sell the property... even if you have to negotiate a preforeclosure short sale.
I'd suggest that you 'run the numbers' get it listed, and get it sold ASAP.