Deed in lieu... - Posted by Dave(WA)

Posted by JT-IN on October 05, 2003 at 20:58:19:


I have done several of these, and if the Grantor will sign a Warranty Deed, I would have them do so… In one case, the party was represented by legal counsel and counsel advised them only to sign a QCD… Understandable… You simply takle what you can get in these instances, and the warranty deed is superior to the QCD…

For the contractural terms of the DIL, I put together an Affidavit of Deed in Lieu of Foreclosure. It stipulated all the terms and conditions of the deal. I had my Atty review it first, then the other parties Atty next… wiht a matter of a few administrative changes, all were satisfied that it represented what we accomplishing. It is a mtter of give and take, and each party benefits by the ned result. All went off w/o a hitch…

I have read in the past read in the Fannie Mae guidelines re: DIL, but I was unable to relocate those guidelines for reference…

Just the way that I view things…


Deed in lieu… - Posted by Dave(WA)

Posted by Dave(WA) on October 05, 2003 at 19:26:56:

…after all the talk about a deed in lieu of foreclosure, I got to wondering, “What form does it take”? I’ve gone over a few WB’s courses in my library, but even though a DIL is discussed, there is no example of form, language, clauses, etc. as is the case with WD, TD, QCD.
Can anyone address this question?
Just curious.


Posted by Randy on October 06, 2003 at 10:22:38:

Dave I have one I can email you if you wish.