Seller Deed-in-Lieu Alternative
When the borrower is severely delinquent on the mortgage, the best option is to contact the Mountain REO agent and consider a short sale. We will list the property on the market and negotiate with the lender the best scenario for you. Should the borrower not be able to receive an offer on the house or not have enough time to market the property, it is the best for the borrower to offer a deed in lieu of foreclosure to the lender.
Deed-in-lieu indicates giving to the lender the title to the property in settlement for the loan balance. This saves the borrower and the lender legal fees and additional charges. Borrower needs to be careful to negotiate with the lender that the deficiency balance (the difference between the outstanding loan balance and the value of the property) is forgiven and the borrower does not have to pay it or be pursued for the deficiency judgment.
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20 Feb, 5:06 pm
Lenders paying borrowers to do short sales t.co/bWPMIXsj I did one a borrower walked away with 18,000 in cash....read more
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17 Feb, 2:34 am
How many Mountain Goats can you see in this picture??? t.co/odMHfqNT...read more
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17 Feb, 2:33 am
How many Mountain Goats can you see in this picture???...read more
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16 Feb, 5:08 pm
Here at Mountain Luxury we Love #shortsales We do a great job and keep the sellers interests in mind! #realestate...read more
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16 Feb, 2:23 am
t.co/0Kmee2Nv Gorgeous home located in Monastery Cove in Huntsville, #utah. Wide open spaces and luxury combined! #realestate...read more
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15 Feb, 8:40 pm
t.co/oCfsCput New #shortsale in South Ogden. Great executive home on the east bench! Must see. #realestate...read more
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15 Feb, 5:42 pm
jjj...read more
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15 Feb, 5:00 pm
We need some #snow here in #utah!...read more