Fill and Sign the Offer by Borrower of Deed in Lieu of Foreclosureus Legal Forms

Offer by Borrower of Deed in Lieu of Foreclosure______________________________ (Your Name) ______________________________ (Your Address) ______________________________ (Your City, State, Zip Code) ______________________________ (Date) ______________________________ (Name of Mortgagee) ______________________________ (Name of Contact Person) ______________________________ (Street Address or Post Office Box Number, City, State, Zip Code) Re: Loan Number ______________________________ (number of loan); ______________________________ (Name of Mortgagor), Mortgagor; Proposed Deed in Lieu of Foreclosure Dear ______________________________ (Name of Contact Person): I do hereby make the following offer to you as an alternative to foreclosure of my property located at ______________________________ (street address, city, county, state, zip code) : I will voluntarily convey the mortgaged property to you by a deed in lieu of foreclosure, in a form acceptable to you, and executed by the undersigned. I am the only party who possesses an interest in the property. My specific reason for this offer is to satisfy in full my obligations to you and to avoid the possibility of any deficiency judgment. The deed will convey marketable title free of all junior liens and encumbrances, and an owner's title insurance commitment will be provided to you at my expense, showing current status of the title, and that there are no other liens or encumbrances affecting the property. The title commitment and the policy issued in accordance with the title commitment will not contain any provisions or exceptions which are not acceptable to you and will insure title free and clear of all federal, state, and local tax liens, including federal estate tax liens. In my opinion, the fair market value of the property is (e.g., slightly less) ______________________________ than the outstanding balance of the mortgage indebtedness. There are no conditions or limitations imposed on this offer, and the conveyance will be absolute.I agree to enter into a written agreement containing such provisions as you may require to effectuate the contemplated transaction including, without limitation, a statement that the mortgage shall not merge with the fee and that the deed will contain an anti-merger clause satisfactory to you. I hereby represent that I am solvent and will not be rendered insolvent by virtue of conveying the mortgaged property to you. I understand that this offer is subject to your review and approval and unless and until a written agreement is signed by you and me no contract between us shall exist. I look forward to your early response. Sincerely, _________________________________________________________ Printed Name and Signature