When you have a problem with your mortgage such as you fall behind on your mortgage can make you confused. In Nationstar, there are several options that you can choose to solve your mortgage problem. To solve your mortgage problem, you have to fill one general application. If you have finished in completing the application and all of the supporting documentation, we can determine the best option that is suitable for you. Some solving problems that are offering by Nationstar mortgage are refinancing, repayment, loan modification, short sale, and deed in lieu. But in this article, we will focus only on Nationstar bank deed in lieu.
What is deed in lieu? According to Wikipedia deed in lieu is a deed instrument where a borrower delivers all interest in a real property to the lender to satisfy a loan which is in default and it is done to avoid foreclosure proceedings. Or we can say that deed in lieu is transferring the ownership of your home to the lender. This option can be your alternative if you are not able to pay your mortgage. This process is more efficient than a foreclosure and the most important thing is that it will decrease the negative impact of your financial. If you do a deed in lieu arrangement, you will have a lot of time to make a plan of your move and your transition of your home as well. You also perhaps will have a right to get relocation help or help for paying the other liens and judgments towards your property. The arrangements obey to investor approval and the other eligibility factors. If you want to do deed in lieu or you are still confused how to do that, you are able to communicate about this with our customer support. If you are sure to do deed in lieu, you are able to fill in form of Statement of Information which is available in the website of Nationstar during the deed in lieu process.
There are several advantages of doing deed in lieu for the lender and the borrower. For the borrowers, they can release themselves from all of the personal indebtedness related to the defaulted loan. They also avoid the public notoriety of a foreclosure and will receive generous terms. It will make them less hurt of credit than a foreclosure. For lenders, they can reduce in the time and cost of a repossession. Besides, the risk of borrower to revenge is also lower and there will be additional advantages if the borrower then submit for bankruptcy.
Do you interested in doing Nationstar bank deed in lieu than doing foreclosure? You can visit the website of Nationstar or call our customer support to get more information about deed in lieu. Or if you are still confused which types of solution that is best to solve your mortgage problem, you can discuss it with our customer support, too. Don’t doubt of getting a help from us because Nationstar has dedicated more than 20 years in mortgage industry and we will do anything to satisfy the customers in solving their mortgage problem.