Re: Died in Lieu after Chapter 7 BK
09-12-2012 03:11 PM
So based on other threads I've seen, you can't unilaterally deliver a deed-in-lieu to a mortgage company that is dragging its feet. If the mortgage company will accept the deed-in-lieu you're correct, it could bring your torture to an end.
They should not be able to report another derogatory after the discharge date of your BK, but there's another set of systems mortgage lenders may be able to access. A deed-in-lieu is considered the same as a foreclosure, and the clock doesn't start on your ability to get another mortgage until the deed is taken out of your name.
^^Bolded part is right. You might consider doing a short sale to speed up the process. It's much quicker now than it has been in the past.