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However, the lien will still remain and they cannot even foreclose now.

When your mortgage servicer charged off the loan, that just means they had written off the debt portion of your mortgage loan as uncollectible for tax purposes.

The lien is a separate legal entity and will remain on the home.

To sell your home with free and clear title, you will have to negotiate a settlement with your mortgage servicer who services the lien.

The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

Please Read our When your mortgage servicer charged off the loan, that just means they had written off the debt portion of your mortgage loan as uncollectible for tax purposes. The lien is a separate legal entity and will remain on the home. To sell your need extra cash now home with free and clear title, you will have to negotiate a settlement with your mortgage servicer who services the lien. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.

I just was wondering what they ask for as far as documentation and how complex a process it is. I could not locate any new deed in lieus with NationStar in the forum. But I found some old posts from members 2-7 years ago who were attempting a DIL. Not sure if you saw these or how their attempts turned out, but you may want to leave a message on these threads asking what ended up happening. The loan was transfered to Nationstar in 2013 and in trying to work with... A short sale or deed in lieuhave similar impacts on your credit score... The bank recently called and asked if I would do a payday loans boise deed in lieu of... I called Nationstar Mortgage and told them I wanted to do a deed in lieu of and they said because I was current they would not even talk to me. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem.

The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Their position is the property has to be habitable. Our home was need a loan today damaged by a natural disaster and it is no longer habitable. I read the servicer guidelines, news releases and handbooks and nothing in them says the property must be habitable on our type of loan. It is important that you know what type of loan you have and you can find that out on MERS ID website. When an original lender pools the loans and delivers them to Ginnie Mae, they have to enter into a servicing agreement. They can delegate most of it to a subservicer, but the original lender is on the hook at first.

Each and every month, whether or not the borrower pays the loan payment, the original lender (as Master Servicer - or the Subservicer) has to forward that money by about the 25th day of each month. So, YOU might not be paying the monthly loan payments, but they are! If there is a foreclosure, they can have the original Ginnie Mae participant (like the VA or HUD) buy back the loan. They have it appraised or get a broker price opinion just before the Trustee Sale. When they take your deed in lieu, either the Master Servicer or the Subservicer is stuck with the deficiency! So, they would rather wait and see if the market will recover at least something in your area.

My understanding is the process online installment loans direct lenders for a deed in lieu is not complex or large unsecured personal loans difficult. There would be an agreement to sign and a quit claim deed from the borrower to the holder of the note. Washington courts have issued an opinion that a deed in lieu satisfies the entire loan obligation in Washington without a contribution.

With a VA home loan, there is a Code of Federal Regulations provision that states a deed in lieu is in full need a loan today satisfaction of the debt. So, the complexity of a deed in lieu might depend on what kind of loan you have and whether or not Nationstar knows the difference. It is important that the subservicer does not apply VA standards to a Fannie Mae or Freddie Mac loan and vice versa. Another reason Servicers do not like deeds in lieu is because they are reported to the credit bureaus as Paid in Full. A short sale or a foreclosure is not reported as Paid in Full. The governmental entities have put deadlines in the guidelines need a loan today for when a foreclosure must be completed. In Washington that is 660 days from the date the last full payment was due and timely made to the date of the completion of the Trustee Sale.


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Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I had to relocate to Florida due to work 2 years ago.

We have tried to rent and have gotten screwed a couple of times. The key objective for our family is to not have the bank come after us for the deficiency on our new home in Florida. I was able to purchase this home with a VA loan and at this point I am ready to give up on the house in Maryland. I have been trying to be responsible but the stress and money in repairs it is not feasible any longer. A deed in lieu of foreclosure would be your best bet. But in my experience, a deed in lieu is one of the hardest loan workouts to accomplish. I probably have only seen about 10-20 in the last 10 years.

With that said, I would still try but also prepare mentally that it will most likely not be approved.

The key to a successful short sale usually is with hiring the right agent no credit check payday loans dallas tx who has a long track record in selling short sales. These agents know the short sale ropes and will work their tales off to get the sale through. They may also be able to get the debt forgiven if they are real good.

Hiring a lawyer will probably do you no good whatsoever other than wasting your hard earned money. The comments by me and the materials available at this web site short term money lenders are for informational purposes only and not for the purpose of providing legal advice.

Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. A deed in lieu of foreclosure would be your best bet. But in my experience, a deed in lieu is one of the hardest loan workouts to accomplish. I probably have only seen about 10-20 in the last 10 years. With that said, I need a loan today would still try but also prepare mentally that it will most likely not be approved. The key to a successful short sale usually is with hiring the right agent who has a long track record in selling short sales. These agents know the short sale ropes and will work their tales off to get the sale through. They may also be able to get the debt forgiven if they are real good. Hiring a lawyer will probably do you no good whatsoever other than wasting your hard earned money. I feel like I am back on the hamster wheel way back when.


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I have been paying 2 mortgages and am at the short end of the stick.

I will try the shortsale route with a hope they will forgive the remainder. But when talking to BofA they say until it is approved they cannot guarantee anything. I really do not want to but if I have to try and rent this thing again I will. They would first have to file for a deficiency judgment and then file to collect from you in Florida so they can pursue you legally under Florida law. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here loans compare is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of loans with bad credit history the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Yes, they can come after any of your assets. They would first have to file for a deficiency one hour loans judgment and then file to collect from you in Florida so they can pursue you legally under Florida law. I will let everyone know what action I take and give a play by play. If I make a mistake and can help someone its worth it.

The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. DIL was approved but lender wanted 73,000 from us payable over 10 years interest-free.

We countered with 20k cash but wanted the 10k when we moved out. We are waiting currently on the Deed in Lease decision to stay here 90 days. We have another house to move to asap but my question is: Now that the bank has all of our financials from applying for the DIL how likely will they come after us for the 120k?