Can anyone come after me for any reason after or during the dead in lieu of Foreclosure Process or Foreclosure Process for removing the copper piping? 2 Answers as of December 04, 2013

I fled our home one year ago (after living there 7) due to finding more and more undisclosed problems at / during inspection process. Water - Mold issue so several children living in the home recovered from an auto immune disorder within weeks of leaving the property that is in a community. Mortgage Servicer stalling deed in lieu of process for reasons such as not circling deposits on bank statement provided etc. and I continue to be responsible for community association dues while they drag their feet. The home is still in my name and I am still responsible for the home.

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Not likely. Ultimately the bank will decide if you qualify for them to take the property back during the deed in lieu.
Answer Applies to: New York
Replied: 12/4/2013
Janke Legal Consulting | Bruce C. Janke
To avoid a deficiency judgment with a deed in lieu of foreclosure, the agreement between the lender and the borrower must expressly state that the transaction is in full satisfaction of the debt. If the deed in lieu of foreclosure agreement does not contain this provision, the lender may file a subsequent lawsuit to obtain a deficiency judgment. The terms of the agreement are negotiable, meaning you do not have to accept the agreement the way the bank drafts it. If it does not contain an express waiver of deficiency, you can demand to have it added, refuse to sign if it isn't, or negotiate to have it included, depending on your bargaining leverage. It might be money well spent to pay a lawyer to review the agreement to ensure that it includes a waiver.
Answer Applies to: California
Replied: 12/4/2013
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