- This topic has 15 replies, 3 voices, and was last updated 15 years, 2 months ago by
EconProf.
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July 15, 2009 at 3:31 PM #16039July 15, 2009 at 4:14 PM #430922
sdrealtor
ParticipantTypically most lenders require you to attempt a short sale before accepting a DIL.
July 15, 2009 at 4:14 PM #431137ParticipantTypically most lenders require you to attempt a short sale before accepting a DIL.
July 15, 2009 at 4:14 PM #431430ParticipantTypically most lenders require you to attempt a short sale before accepting a DIL.
July 15, 2009 at 4:14 PM #431500ParticipantTypically most lenders require you to attempt a short sale before accepting a DIL.
July 15, 2009 at 4:14 PM #431657ParticipantTypically most lenders require you to attempt a short sale before accepting a DIL.
July 20, 2009 at 11:50 AM #434167Anonymous
InactiveBy the lack of comments, I will assume DIL isn’t that common.
July 20, 2009 at 11:50 AM #434373InactiveBy the lack of comments, I will assume DIL isn’t that common.
July 20, 2009 at 11:50 AM #434687InactiveBy the lack of comments, I will assume DIL isn’t that common.
July 20, 2009 at 11:50 AM #434760InactiveBy the lack of comments, I will assume DIL isn’t that common.
July 20, 2009 at 11:50 AM #434927InactiveBy the lack of comments, I will assume DIL isn’t that common.
July 20, 2009 at 2:51 PM #434232EconProf
ParticipantDeed in Lieu of foreclosure is when the lender and borrower agree to avoid the expense and hassle of the foreclosure process and the property is given over to the lender who then presumably sells it. It actually makes a lot of sense when the value is only a little less than the mortgage, because it lessens property deterioration during the FC process, speeds everything up, and is pretty common among private TD lenders. Banks have their rules and bureaucracies, and have to do everything the hard way…don’t want to admit their mistakes, etc., so they do it less frequently.
July 20, 2009 at 2:51 PM #434437ParticipantDeed in Lieu of foreclosure is when the lender and borrower agree to avoid the expense and hassle of the foreclosure process and the property is given over to the lender who then presumably sells it. It actually makes a lot of sense when the value is only a little less than the mortgage, because it lessens property deterioration during the FC process, speeds everything up, and is pretty common among private TD lenders. Banks have their rules and bureaucracies, and have to do everything the hard way…don’t want to admit their mistakes, etc., so they do it less frequently.
July 20, 2009 at 2:51 PM #434752ParticipantDeed in Lieu of foreclosure is when the lender and borrower agree to avoid the expense and hassle of the foreclosure process and the property is given over to the lender who then presumably sells it. It actually makes a lot of sense when the value is only a little less than the mortgage, because it lessens property deterioration during the FC process, speeds everything up, and is pretty common among private TD lenders. Banks have their rules and bureaucracies, and have to do everything the hard way…don’t want to admit their mistakes, etc., so they do it less frequently.
July 20, 2009 at 2:51 PM #434825ParticipantDeed in Lieu of foreclosure is when the lender and borrower agree to avoid the expense and hassle of the foreclosure process and the property is given over to the lender who then presumably sells it. It actually makes a lot of sense when the value is only a little less than the mortgage, because it lessens property deterioration during the FC process, speeds everything up, and is pretty common among private TD lenders. Banks have their rules and bureaucracies, and have to do everything the hard way…don’t want to admit their mistakes, etc., so they do it less frequently.
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