Forclosure Vs. DIL
Posted by Yo on May 20, 2008 at 15:56:03:
I am in california and in the middle of loosing my rental. We have had it up for sale for over a year and a bunch of bad renters has really set us back. I discussed w/ my lender the deed in leu option and they have requested all of our financial information. Can the bank request that we pay them if we show we do have money in the bank? I didn't want to wait till I was completely out of money to loose the home since I knew it was heading into forclosure. What would be the benefit of doing the DIL compared to the forclosure?
Follow Ups:
- Re: Foreclosure Vs. DIL - NJD 12:56:22 05/21/08
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- Re: Foreclosure Vs. DIL (url) - Paul 15:59:20 05/26/08
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