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Deed in lieu?
Often confused with a "short sell", a "deed in lieu" is used when a homeowner facing foreclosure asks the lender to accept the deed instead (in lieu) of foreclosure. A sample request for a deed in...
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Can a deed in lieu of be on an investment property?
Yes. Absolutely.
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What is deed-in-lieu of foreclosure?
When a mortgage is delinquent and loss of the home is inevitable, a borrower may negotiate with the bank to return the home. They hand over the "deed" instead of the bank paying a trustee or attorney...
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Can you do a deed in lieu with PMI?
You can however expect the insurance company to require you to sign a note, generally for around 10% of your mortgage balance. They also will not negotiate how it is reported on your credit. I...
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How will a Deed in lieu of foreclosure effect your credit?
If the bank is about to foreclose on your property, you may be able to make a deal with them. Instead, of have them having to hire a lawyer and pay him several hundred dollars an hour and go to court...