How Do You Avoid Foreclosure With A Deed In Lieu?
So you have tried to sell your house. The only offer you had on your house was short of the amount you owe to the bank. Your real estate short sale was denied. Now what? Contact your financial institution and find out exactly which documents you need to satisfy their loss mitigation department. Each bank or lending institution has it’s own set of rules. Try to have all the information so that you can submit it at the same time. This process will be similar to the process for a real estate short sale. Ask your Realtor for your existing real estate listing agreement. Include all modifications to your listing agreement. Also, have your turned down short sale offer available, if you had a previous real estate short sale denied by the bank. Submit all paperwork to the proper department of the lending institution. This is usually the loss mitigation department; but you should be certain that you are using the correct fax number. Call the same day that you submit the documents to ensure that
