Ocwen agreed to DIL!

[LadyInTheRed]

Am I missing something?

Litton sold mortgage to Ocwen during life of B13. Initially, we intended to keep the house, but recently decided against it (underwater and husband and I got new jobs 120 miles away). Ocwen started foreclosure and agreed to treat any shortage as unsecured. Got news today Ocwen agreed to DIL. Paperwork on it's way and title should be transferred by end of this month. End result (DIL vs foreclosure) nets the same to us, right?

If you didn't surrender the home in your Chap 13, a DIL is better. A mortgage is not discharged in a Chap 13, so without the DIL, the lender could come after you for a deficiency. If you did surrender the home in the Chap 13, then it makes no difference.

[filingin08]

Am I missing something?

Litton sold mortgage to Ocwen during life of B13. Initially, we intended to keep the house, but recently decided against it (underwater and husband and I got new jobs 120 miles away). Ocwen started foreclosure and agreed to treat any shortage as unsecured. Got news today Ocwen agreed to DIL. Paperwork on it's way and title should be transferred by end of this month. End result (DIL vs foreclosure) nets the same to us, right?