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You may be able to initiate it by discussing the situation with the lender and getting it to agree to allow you to give a deed in lieu of a foreclosure. It will be up to the bank and each lender has its own requirements.

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โˆ™ 2011-11-20 17:12:40
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The bottom term of a fraction

A number being added to another number

A fraction whose numerator is equal to or greater than the denominator

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Q: Can you initiate a deed in lieu of foreclosure before you become late in on your house payments?
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Related questions

How many payments missed before foreclosure starts in Florida?

Different places can have various restrictions when it comes to foreclosure. However, in Florida you can miss 3 payments and then the foreclosure will start.


How many payments can be missed before foreclosure begins in South Carolina?

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How many payments can be missed before foreclosure begins?

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How many payments have to be missed before foreclosure by the mortgage company.?

This will vary by mortgage company, state, and circumstances. You will be notified by mail before any foreclosure action can be taken.


Can you stop the property from going to foreclosure 2 days before it will be foreclosed on?

Yes, by paying the back payments. Also, filing bankruptcy prior to the foreclosure will normally put a hold on the foreclosure proceedings.


How many house payments can you miss before it is repossessed?

once you are 90 days down they can start with a foreclosure.


How many payments do you miss before wellsfargo forecloses in Oregon?

Not sure the case in Oregon, but usually after 3 missed payments, the foreclosure proceedings start.


How long before the bank forecloses on a house?

Most lenders will try to work with you before the house or property goes in to foreclosure. Most foreclosure proceedings will not begin until 4 or 5 payments are missed on the loan.


Landlord is filing a foreclosure on your mobile home because you are behind on payments how long do you have before moving?

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How far behind on mortgage payments before foreclosure starts?

90 days This is not true. we were only 30 days late and our home was foreclosed on.


What is the real estate foreclosure procedure in Florida?

The owner needs to be 91 days in arrears on their mortgage payments. The bank will send them a letter that they will be beginning foreclosure proceedings. The whole thing can take up to 6 months before the bank actually takes the house.


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Technically you are eligible for foreclosure the day you miss a payment, but in practice this is never the case. Most lenders will begin the foreclosure process after 3 payments are missed, but that does not mean the home will be foreclosed. Many lenders are required by law to work with the borrower to modify the loan, or otherwise demonstrate significant effort to avoid the foreclosure. Many foreclosures take 6 months to a year to complete. This varies greatly by state, loan type, and investor/owner of the loan.

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