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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18 May, 3:21 pm
t.co/PuPaHscl LAST lake front condo in #ogden Valley! #realestate...read more
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18 May, 1:38 pm
One of our local greats! Nicely said Alex. t.co/CP3fdYYM...read more
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18 May, 3:00 am
We hope to see some familiar faces at the #ogden #marathon on Saturday!!!...read more
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17 May, 12:28 am
May is National Burger Month! Where is your favorite Burger joint??? If you are ever in Northern #utah you need to try The Shooting Star:)...read more
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Anniston Star - Bob Davis Politics on two wheels t.co/jtPoI5oM The new mayor of #ogden is a cyclist!...read more
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16 May, 3:56 pm
t.co/YBqxAiNr Price Reduced AGAIN on this AMAZING #shortsale on 29 acres in #utah! We need an offer!...read more
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16 May, 5:59 am
Listed 2 bank owned lots in #midway and received 2 offers! Great #realestate news!...read more
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12 May, 4:24 am
t.co/YBqxAiNr Price Reduced AGAIN on this AMAZING #shortsale on 29 acres in #utah! We need an offer!...read more