Legal Question in Real Estate Law in New Jersey

If you are awaiting a deed in lieu of foreclosure, there shuld be a written agreement - what does it say? I would not want to keep making payments, so I'd tell the bank I can't keep making payment, to put the burden on them to move ASAP, and save up some money, but of course, they could agree to take a deed in lieu, and AGREE NOT TO PURSUE ANY DEFICEINTCY, only IF you agree to keep making payments, but then I'd give them say 30-60 days to do so, to limit how long you are making payments. It would probably be smart to hire an attorney to help you with this, as it could cost you much more trying to do it on your own... Good luck!

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What is the agreement between you and the mortgage holder regarding what happens until the Deed is issued? This should have been covered when the deal was cut. If this was not covered, it should be done now, as the mortgage holder could say you have been in breach and not accept the Deed.