| re: CW Deed in Lieu SUCCESS!!
Their primary concern is liens and encumbrances that are junior to their loan. That is because if they take the deed-in-lieu, they take the property subject to those liens. Real property taxes actually have priority over their loan so they will likely be willing to accept title in that condition.
Good luck and be sure to let us know if you succeed in this process. I concur about getting an attorney to look over the paperwork. What you want is to give them the house and be free of the debt. To insure you desires are met, it is critical that you get an opinion from an attorney skilled in real estate law and debt collection practices.
Take care,
Daniel |