Deed-in-Lieu Frequently Asked Questions
A Deed in Lieu of foreclosure (DIL) is a disposition option in which a mortgagor
voluntarily deeds collateral property in exchange for a release from all obligations under the
mortgage. A DIL of foreclosure may not be accepted from mortgagors who can financially
make their mortgage payments.
1: When a mortgagor has been approved for utilizing a DIL of foreclosure, how much
time does a mortgagee have to complete the DIL?
Question 2: Does HUD allow $2,000 to pay off second liens when determining if a mortgagor is
eligible for a DIL?
Question 3: Can a mortgagee revert from a foreclosure process to the acceptance of a DIL
from a mortgagor?
Question 4: Does a mortgagee have the ability to accept a DIL of foreclosure when there is an existing
Deed in Lieu- It’s For You~!
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About the Author
Matt Weidner is known as a persistent, diligent and competent advocate passionate about protecting consumers. First admitted as member to the Florida Bar Association in 1999 he is admitted to practice in the Federal Court, Middle District of Florida, Northern District of Florida and the United States Court of Appeals for the Federal 11th Circuit in Atlanta, Georgia. Mr. Weidner has been practicing civil litigation since 1999 and has represented clients in foreclosure, consumer and commercial finance transactions and civil litigation since that time.