What exactly does it mean to forfeit mortgage? I spoke with my mortgage company today and he asked me if I was going to forfeit the mortgage? It left me a little confused because he has stated in past conversations they will not do a deed in lieu or short sale. Is forfiet a general term?
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Last edited by Dannmcg357; 12-28-2009, 10:02 AM.Filed CH7 Feb 12 2010
341 March 18
Discharged...May 18
Awaiting closing... -
I guess no one knows or everone is mad at me! lol
The legal definition is :
1.Something surrendered or subject to surrender as punishment for a crime, an offense, an error, or a breach of contract.
I guess it is just verbage as he assumes I am going to surrender the mobile home, which I am, but only when I am ready.Filed CH7 Feb 12 2010
341 March 18
Discharged...May 18
Awaiting closing... -
I don't think anyones mad at you! I had no idea what the term meant. This sound pretty accuate however. Good luck!Originally posted by Dannmcg357 View PostComment
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