Has anyone been contacted by Nationstar offering the Deed In Lieu.

 

These are the 2 emails I have received thus far:

Thanks for the info. It looks like they are hafa eligible. Which goes back to my question, do you have any offers? They can still get the hafa relocation assistance whether they agree to do a deed in lieu of foreclosure or if they wanna continue to pursue the short sale. Our realtor incentive program pays you a commission based on a percentage of the BPO. So let me know if the seller's wanna continue to pursue the short sale or if they as well as you are interested in doing the deed in lieu. Thanks

 

Hello my name is Alma and I will be the negotiator for this file. Do you have any offers. If not, I would like to discuss a realtor incentive deed-in-lieu program that Nationstar offers. Please advise. Feel free to call me at 469-549-2468. Hours of operation Monday-Friday from 8am-5pm. Thanks

 

I just got the call on Friday from the sellers that they had tried HAMP and were informed by nationstar that they are not eligible. TS sale was set for 8/19.

I called and got 120 day postponement, but then started receiving the DIL emails.

Sure could use some info advice.

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Wow, my negotiator just emailed me back within 5 mins. stating that the DIL is being offered if unable to get a good offer.

 

Any ethical Realtor would not do a DIL for money.

Not sure what you mean?  Accept money from the seller?  I have seen small lenders offer a DIL and give the agent some money for their troubles.  I have not done it but I don't see how it cross any ethical lines, especially if the DIL is in the best interest of the seller and the bank is paying the agent.   I don't think that it would violate the Realtor code of ethics but I have been wrong before :)

The Negotiator said:

Any ethical Realtor would not do a DIL for money.

I didn't mean legally unethical, I meant can't sleep at night unethical! LOL

 

I think a Realtors job is to avoid a foreclosure. DIL is a voluntary foreclosure that goes on a credit report as such, therefore, being "incentivised" to do a DIL is wrong, in my opinion (politically correct.) Why do you think banks are now paying (or in my opinion bribing) Realtors.

I'd like to know your thoughts on when a DIL is in the best interests of a homeowner, though?


Got it.  Every situation is different and quite honestly I don't know how a DIL would be better but I am sure that there are times. For me, if my seller came to me and wanted to do a DIL AND talked to legal council and/or a CPA and still wanted to do it, I have no problem at all, it is their home and their credit..... Maybe some others would chime in with their DIL experience.
The Negotiator said:

I didn't mean legally unethical, I meant can't sleep at night unethical! LOL

 

I think a Realtors job is to avoid a foreclosure. DIL is a voluntary foreclosure that goes on a credit report as such, therefore, being "incentivised" to do a DIL is wrong, in my opinion (politically correct.) Why do you think banks are now paying (or in my opinion bribing) Realtors.

I'd like to know your thoughts on when a DIL is in the best interests of a homeowner, though?

We just signed up a property owner who filed BK a while back. Their BK attorney said that the BK would take care of the houses and they shouldn't worry. Just recently, they asked, "why are we still listed as owner?"

GRRR

To this day, I have heard so much bad info given to the homeowner. I mean, this is just another reason why I feel really bad for people who file BK just because of their house issues. BK attorneys are morons and should be hung out to dry ...

 

I said all that to say, even if homeowners talk to "legal" people,  I still don't believe that a DIL is ever the best thing.

 

However, you are right, Jeff. We cannot always get the homeowner to IGNORE their "legal" recommendation.

Agreed.  The BK attys do a great job, a great job of taking the money and giving bad advice.

The Negotiator said:

We just signed up a property owner who filed BK a while back. Their BK attorney said that the BK would take care of the houses and they shouldn't worry. Just recently, they asked, "why are we still listed as owner?"

GRRR

To this day, I have heard so much bad info given to the homeowner. I mean, this is just another reason why I feel really bad for people who file BK just because of their house issues. BK attorneys are morons and should be hung out to dry ...

 

I said all that to say, even if homeowners talk to "legal" people,  I still don't believe that a DIL is ever the best thing.

 

However, you are right, Jeff. We cannot always get the homeowner to IGNORE their "legal" recommendation.

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