We were discharged in the fall of 2011 with house surrender & moved out of our house well before that due to husband's unemployment & continuing illness. BoA via mail offered deed in lieu of foreclosure with them on the 1st mortgage. Their paperwork mentions only the 1st mortgage although both the 1st and 2nd were discharged on the Chapter 7. In addition, BoA is requesting copies of recent salaries and our most recent tax filing. We are still paying the quarterly HOA fees (per our lawyer's recommendation).
While I might be tempted on the DIL just to move the foreclosure along, I have concerns about some of their terms on their paperwork (i.e, we are responsible for anything outside of 1st mortgage, tax liability on amount forgiven, requests for salary & tax statements). I know the 1st & 2nd were discharged but I don't have a strong comfort level with their terminology. I am wondering if anyone has done a DIL after Chapter 7 discharge in Florida. Tks!
hello dee, sorry for the late response. actually a DIL would be great for you provided all the conditions are clearly outlined and it will clearly state you will not be responsible for any further cost associated with the property and they can never go after you for any fees or costs. that being said, i personally would bring the contract to an atty for review for considering it. we did one DIL and i also had the bank sign a release of all liability for any future sales or shortages etc and by signing and accepting this document the situation is considered closed and satisfied. it may be as simple as your atty writing the bank such a release letter for them to sign.
best of luck and i hope it works out for you!