Ilyce Glink, a writer for Inman news published an excellent article yesterday supporting what we’ve been saying for years – that a Deed-In-Lieu of Foreclosure (“DIL”) is an absolute last resort for a seller.
In the article, she discusses how it’s almost impossible to get your lender to settle your account with a DIL. How the DIL simply reduces the costs and time for your lender and puts you in a worse situation compared to a settled account with a short sale (our specialty).
Check out that article and let us know what you think.
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