Chermack Law

  • Practice Areas
    • Family Law
    • Bankruptcy
    • Adoption
    • Housing Law
  • About Liz
  • Contact
  • Blog
  • Se Habla Español

CitiMortgage’s Deed in Lieu of Foreclosure Program

Posted on March 4, 2010 by Elizabeth Rosar Chermack

The New York Times recently posted this article about CitiMortgage testing out a deed in lieu of foreclosure program in New Jersey, Texas, Florida, Illinois, Michigan, and Ohio. According to the article, this new program “is similar to one announced last fall by Fannie Mae, the government-controlled mortgage company. Fannie is allowing homeowners to return the deed to their properties, then rent them back at market rates.”

Although the program is not yet available in Minnesota, I am glad to see that more options are being made available to distressed homeowners.

Posted in Housing Law | Tags: CitiMortgage, deed in lieu of foreclosure, negative equity, underwater mortgage |
« Produce the Note
Minnesota Divorce and Bankruptcy: An Introduction »

Leave a comment Cancel reply

You must be logged in to post a comment.

Recent Posts

  • Updated means test numbers – effective November 1, 2020
  • Uncontested Flat Fee Divorce and Custody Cases
  • Family Law Intake Forms
  • Balancing Act: Episodes 31 thru 35
  • Balancing Act: Episodes 28 thru 30

CyberChimps WordPress Themes

© Elizabeth Rosar Chermack, Attorney at Law. Disclaimer: The content of this website is provided for informational purposes only. Information you obtain from this website is not, nor is it intended to be, legal advice. You should consult an attorney for individualized advice. Use of this website does not create an attorney-client relationship. Elizabeth Rosar Chermack, Attorney at Law, is a designated debt relief agency by an Act of Congress and the President of the United States. She assists consumers seeking relief under the U.S. Bankruptcy Code.