[WSBARP] foreclosure vs deed in lieu

[Gregory L. Ursich]

They are worried about undisclosed liens on title that they would later have to pay off.  If you order ( or the lender orders) a Litigation Guarantee or Trustees Sale Guarantee from a title insurer, and that reports shows no other monetary liens, then maybe you can convince them to accept a deed in lieu.

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Gregory L. Ursich
Shareholder
Skyline Tower, Suite 1500 | 10900 NE 4th Street | Bellevue, WA 98004
P: 425.450.4258 | F: 425.635.7720
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Robert R. Cole
Sent: Tuesday, September 22, 2020 5:31 PM
To: WSBA Probate & Trust Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] foreclosure vs deed in lieu


Can someone tell me why Lenders don't take a deed in lieu, especially after Borrower's death, even when there is no other loan, and a PR willing to give it, and no Medicaid to be reimbursed?  It has happened to me numerous times.  Is it due to insurance issues or other back office matters???  What are they afraid of?
--


Very Truly Yours,
Robert R. Cole
Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW
Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)

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