Deed in Lieu of Foreclosure

I need more information. Please call me. Jericho Cherry 804-556-0685. Or you can email me jcherry@loansimple.com

Can you please give more details to your question?

Deed in Lieu of foreclosure has the same mandatory waiting periods as If the home actually went into foreclosure.. FHA requires 3 years, unless you can document a 20% reduction in income, then they will allow you to apply after 12 months of on time payments on all your obligations.. you would still need to have sufficient credit scores, debt to income, job, etc.. but there Is a loan product there.. otherwise you will wait 3 to 7 years for financing.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

A deed in lieu of foreclosure is a way to "give your house back to the bank, and not owe anything on the loan". It saves the time and expense of the legal foreclosure process, but not remove other, more recent liens, such as IRS liens and judgments.

In many cases you can qualify for a mortgage 3 years after the transfer of your property through a deed in lieu of foreclosure. Is this what you were asking? I am always happy to assist so if you need more information, a pre-qualification, or a competing rate quote you can go to my web page and use my live support button to discuss anything at all with me in an easier format. Web Address is: http://www.loansfromrob.com/quote/ Email is rhanson@gladewaternational.com and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Basically it's where you give up all legal rights to the home in exchange for being absolved of all obligations associated with it. The lender agrees to essentially take back the home, the mortgage goes away and the lender gets the house back without having to foreclose. You do have to get approval from your lender if you decide to go this way and I suggest talking with a local expert or attorney first. Best wishes,

we can do a loan for someone that has had a Deed in Lieu of foreclosure.. www.firstfloridafin.com 954 558 4430