deed in lieu

[gowiththeflo]

does anyone know... can I offer the bank the deed and if they say no can I still quitclaim the deed over to them without their permission?

[StartingOver08]

The issue might be: Who actualy owns the note? Your servicer (ASC, Wells Fargo, EMC, BOA etc) is not necessarily the note owner.

You might want to find out who owns the note first thru a RESPA letter, a/k/a Qualified Written Request, then quit claim the deed to the note holder.

Otherwise it could be a real mess!

[gowiththeflo]

Why would it be "a real mess"? and should i wait for the bk7 to be done with?

[gowiththeflo]

can i quitclaim a deed and record it with the county clerk without morequity agreeing or signing?

[fyi2]

I would also like to know if acceptance of the deed in lieu should be completed or initated while in bk or if one should wait until bk is done

[HHM]

can i quitclaim a deed and record it with the county clerk without morequity agreeing or signing?

No. It wont count.

Servicers don't like DIL, and many lenders don't either. Sure, it's less costly than foreclosure, but can create other problems. Servicers (not the note holder) actually make a lot of money doing a foreclosure (this is why modifications are so hard to get), second, the foreclosure process guarantees the elimination of any junior liens on the property.