The Lender is pushing the homeowner to do a "Deed in Lieu" on his home as we've had the property listed for over 3 months with no offers. No other liens on property and no incentives offered to homeowner by Chase, who is Lender. Why would the homeowner agree to a "Deed in Lieu" over a Short Sale? Thanks.
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Easier. Less stress. A DIL can be a good alternative to short sale as long as the borrower can get favorable terms and conditions as part of the DIL agreement. They should seek legal advice.
If the property has been on the market for 3 months with no offers then you need to start doing regular price reductions until you get it sold. Reduce as low as you need to to get a contract.