Deed in lieu of foreclosure

3 Replies

Can a deed in lieu of foreclosure be cancelled with the bank? According to the homeowner he was trying to give his house back to the bank and the house has been "tied up in paperwork with the bank" for over 2 years. I'm trying to help him get it out of this process if it is possible.

This would probably depend on many factors, but most likely if it isn't completely finished and recorded then they could withdraw. The downside is that it may actually be the best option for the property owner, so make sure you are giving them a better option if they withdraw from it. 

Good Luck! Aaron