I had Keagan with Nationstar contact me about doing a deed in lieu on property. The house has been listed for 18 months and there has been no luck on a short sale (under contract twice, buyers flaked). He proposed the deed in lieu to prevent foreclosure (house is 8 months behind... in New Jersey). Has anyone dealt with them on deed in lieus? Does owner usually need to pay the price difference in price or take a big tax hit? Also, anyone work with this guy before?
Tags:
Question #1; how long does a foreclosure take in New Jersey? Its 8 months in on a life of X-months.
How are sellers with the foreclosure on their record? Do they care? Any plans to purchase a property in 7-years?
A DIL can have deficiency or not have deficiency and I've seen lenders approve a DIL and in the tiny tiny print mention the right to pursue deficiency; Bank United comes to mind. You have to be specific on which is agreed to. A DIL with deficiency is a worthless trick, in my opinion.
Every property, everywhere will sell at some price. A short sale at a fair market price might be in seller's best interest.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.