Deed in Lieu

If other financial hardship options haven't worked out and you'd be open to selling your home, a deed in lieu (DIL) may be the right move.

The Home Affordable Foreclosure Alternatives will no longer be available with loan registrations after December 30, 2016.

How it works

A DIL of foreclosure transfers the ownership of your home (the deed) to your mortgage lender, releasing you from your mortgage and payments. You can complete a DIL through your lender or through the Home Affordable Foreclosure Alternatives (HAFA) program.

Are you eligible?

You may qualify for a DIL if:

  • You owe more on your mortgage than your home is worth (also known as an "underwater" or "upside down" mortgage).
  • You haven't been able to refinance, modify your mortgage or complete a short sale.
  • You'd consider leaving your home.

Next steps

Contact Citi to find out if you're eligible for a DIL.
Have the following information ready to help speed up the process:

  • Your mortgage statement and other loan information such as monthly payments and balances of second mortgages, auto or student loans
  • Copies of your 2 most recent pay stubs showing your year-to-date earnings
  • Your most recent quarterly or year-to-date profit/loss statement, if you're self-employed or an independent contractor
  • Your most recent personal checking, savings, money market, mutual funds, stock and bond statements
  • Your most recent tax returns

Need mortgage help?