Are we responsible for our mortgage balance after deed in lieu? Posted on September 22, 2010

According to our mortgage company they will clear our account after the deed in lieu and we will have the tax liability of the difference between the home's current value and the amount owing on the mortgage. How can we make sure our mortgage company will honor this if we go through with it? (They are notorious for saying one thing/doing another) Are there ways of negotiating the amount due on the taxes?

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