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Deed in Lieu and Chapter 13

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    #1

    Deed in Lieu and Chapter 13

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    I will be filing chapter 13 within the next 2-3 months. I have a rental property that I want to do a Deed in Lieu of. Is there a benefit to file the CH:13 first then do the deed in Lieu? I live in Southern California
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    #2
    No benefit, in fact, if you file the chapter 13, the bank probably won't do the DIL. Just an FYI.

    Comment

      #3
      If you are filing a 13, a deed in lieu is waste of your time.
      Chapter 13 Filed (Pro Se) - 9/30/09
      Confirmation Date - 12/1/09
      Stats - $1752/month, 29/36 completed, 4% to Unsecured, Lien Stripped 2nd Mortgage

      Comment

        #4
        Originally posted by UpsideDownMI View Post
        If you are filing a 13, a deed in lieu is waste of your time.
        What if you are going to be in a 100% plan and don't want a deficiency being filed, which could increase your payback amount?
        Filed CH13 - 06/2009
        Confirmed - 01/2010

        Comment

          #5
          Originally posted by forgotten View Post
          What if you are going to be in a 100% plan and don't want a deficiency being filed, which could increase your payback amount?
          A DIL doesn't eliminate a deficiency issue.

          Comment

            #6
            Originally posted by HHM View Post
            A DIL doesn't eliminate a deficiency issue.
            How can transfering the title in full satisfaction of the note not eliminate a deficiency?
            Filed CH13 - 06/2009
            Confirmed - 01/2010

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