How does lean & loop work to make the bank buy your house back?

I'm told that the house needs to be in good standing with the lender.


The house needs to be up for sale for 3 months.


I don't know how to lock in the bank or if there is other players and in the end, the bank HAs TO buy you r house back. Please fill me in on this process if you know and if you have done it. Thank you :)

How does lean %26amp; loop work to make the bank buy your house back?
You are talking about a "deed in lieu of" where the bank takes the house and you are out from under the loan.





Simply put a "deed in lieu" is simply asking your lender to take the deed to your house in exchange for canceling your loan. Your lender takes the keys instead of foreclosing.
Reply:Really? I wanna know too.



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