Tools & Resources
Deed in Lieu
Steps in the Deed in Lieu process
1. Call your Case Manager to discuss this process. Before you call in, gather the following information:
- Loan number and property information
- Information on any home equity loans or lines of credit on the property, if applicable
- Details about your hardship
2. After we have received all of the information requested we will:
- Order an interior appraisal to determine the current market value
- Compare the value to the balance on your first mortgage
- Perform a title search to ensure the property is free of any liens
If your request for a deed in lieu is approved, we will send you a letter stating the terms and conditions of the approval, along with documents that you will need to sign and return. You will have 14 calendar days to sign, notarize and return the release documents to us. You will have up to 30 calendar days to relocate, depending on the law in your area.
Ready to apply? CLICK HERE and scroll down to the bottom section, "Having Trouble Paying Your Mortgage?" After you click the "Get started" link you will be taken to a log-in page where you will need to register in order to log in.