Legal Question in Securities Law in Illinois

Forclosure/Deed in Liu

I don't qualify for a home modification. Rather than going into forclosure, I was thinking of doing the Deed in Liu. Whichever one occurs, can the mortgage company make me responsible for any fees incurred. Obvioiusly, if I can't pay my mortgage, I can't pay any fees involved. I just need to know what I will be facing. Thank you.


Asked on 7/18/09, 2:19 pm

1 Answer from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Re: Forclosure/Deed in Liu

Thank you for your question. Have you tried a loan modification? Are you sure you don't qualify. I have worked with people in all situations with loan modifications.

A deed in lieu is another alternative. Generally speaking, you will not be responsible for any fees. Are they suggesting that you will be? You should be able to negotiate those away.

Feel free to email me with any further questions: [email protected]

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Answered on 7/21/09, 7:14 pm


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