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Ask cortrightlaw Your Own Question
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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Is it true if you do a deed in lieu or short sale that you

Customer Question

Is it true if you do a deed in lieu or short sale that you might
Get money to relocate? I got a modification for my house
But payments went up. Im going to do the trial payments
And see how it goes.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 3 years ago.

cortrightlaw : That depends on your lender, sometimes they will offer an incentive if you move out quickly usually it is offered byt the real estate agent after the home is foreclosed on. It is voluntary for the lender though so it is up to them.
Customer : After forclosed on? I thought ded in lieu was to avoid forecl?
cortrightlaw : If they will accept deed then it does not foreclose but usually they do not want to door that way as they can be stuck with other liens on the property. You should contact a realtor and discuss short sale. If you can get an approved short sale sometimes they will include some money for you to move.