Deed in Lieu of Foreclosure or Deed in Lieu
September 14, 2009 by Pete Mitchell
Filed under All Posts, Foreclosure Scams
A Deed In Lieu (DIL), which is the term commonly used for Deed In Lieu of Foreclosure, is a home disposition option in which a mortgagor voluntarily deeds collateral property (their home) in exchange for a release from all obligations under the mortgage.
An interesting misconception about a DIL of foreclosure is that many people feel they can just give the home back to the bank at any time, without meeting any qualifying criteria. This is not true.
Obama Mortgage Bailout – The Home Affordable Modification Program (HAMP) & What This Means To You
September 7, 2009 by Pete Mitchell
Filed under All Posts, Foreclosure Help
The Obama mortgage modification/bailout plan known as HAMP, has a small number of reasonably easy to meet criteria that must be met to potentially receive a mortgage modification and lower your mortgage payments.
