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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Concurrent Escrow and Deed-in -Lieu Posted by Ward-CA- on June 04, 2003 at 7:43 PM In Reply to: Concurrent Escrow and Deed-in -Lieu posted by Lughead on June 04, 2003 at 2:59 PM : hello : we are foreclosing on a note - the trustor is in their 3rd escrow now with this property - thus we are skeptical - and as a result reluctant to extend the sale date due to very poor communication and follow thru on the part of the trustor : if the trustor is willing to do a deed-in-lieu - can we do this while it is in Escrow? - : : seems as a lender we are in a different ballpark than him just not 'performing' on the sales agreement with the potential buyer : we certainly do not wish to open ourselves to another can of worms - the deed in lieu would be preferable than trustor declaring BK only to postpone matters : thank you =•=•=•=•=•=•=•=•=•=•= Lunk, Yes, you can do a deed-in-lieu of foreclosure while the deal is in escrow. If you do a deed-in-lieu of foreclosure make sure you also get the companion estoppel filled out and signed by the debtors. Your title company will require it when you resell or refi later on. I’m assuming you know everything concerning the current status of the title record of the property. Hope this helps. Follow Ups: Re: Concurrent Escrow and Deed-in -Lieu David 1:22 PM, 06/05/03 (2) Explaining the deed-in-lieu of foreclosure... Ward-CA- 9:18 AM, 06/08/03 (1) Re: Explaining the deed-in-lieu of foreclosure... Joe 10:01 AM, 07/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : hello : : we are foreclosing on a note - the trustor is in their 3rd escrow now with this property - thus we are skeptical - and as a result reluctant to extend the sale date due to very poor communication and follow thru on the part of the trustor : : if the trustor is willing to do a deed-in-lieu - can we do this while it is in Escrow? - : : : : seems as a lender we are in a different ballpark than him just not 'performing' on the sales agreement with the potential buyer : : we certainly do not wish to open ourselves to another can of worms - the deed in lieu would be preferable than trustor declaring BK only to postpone matters : : thank you : =•=•=•=•=•=•=•=•=•=•= : Lunk, : Yes, you can do a deed-in-lieu of foreclosure while the deal is in escrow. : If you do a deed-in-lieu of foreclosure make sure you also get the companion estoppel filled out and signed by the debtors. Your title company will require it when you resell or refi later on. : I’m assuming you know everything concerning the current status of the title record of the property. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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