Deed in Lieu of Foreclosure Lawyer
Representing Clients In Real Estate Matters Since 1994
A “deed in lieu of foreclosure” is an option to stop foreclosure of your home and avoid a deficiency judgment. With a deed in lieu, you voluntarily turn the deed over to the bank, and walk away from your home in exchange for cancellation of the mortgage.
This means that the lender promises they will not sell your home at a foreclose auction or seek a deficiency judgment.
As with a short sale, a deed in lieu may be the right option when the loss of your home best serves your interests. For instance, if you know you cannot possibly afford a payment plan even through loan modification, this may be an appropriate alternative to foreclosure. Although you lose your home, your mortgage will immediately be considered paid in full without further obligation.
Qualifications for a Deed in Lieu of Foreclosure
Positives to a Deed In Lieu of Foreclosure
Negatives to a Deed In Lieu of Foreclosure
A deed in lieu should be carefully considered against all other defenses and alternatives to foreclosure. In many cases, the risks outweigh the benefits.
Deed In Lieu Criteria - Foreclosure Alternatives
There are other criteria to consider when applying for a deed in lieu, and every situation is unique. We can help and advise on these issues as well as on other foreclosure alternatives (short sale).
Larry helps clients who are facing foreclosure by guiding them through the various issues related to the loss of their Florida real estate, including Short Sale advice, Deficiency Judgment counseling, Wrongful Foreclosure, Loan Modifications, loss or sale of property at the Foreclosure Sale while pursing a loan modification or short sale and defects or fraud in the mortgage foreclosure process, including lost Promissory Notes, Improper Mortgage Assignment, and the failure to be served with the foreclosure lawsuit or other documents.
Get A Free Case Evaluation - Call (954) 458-8655
Contact Larry to find out how he can help you. You can contact him by phone at 954-458-8655 or by e-mail through this web site to schedule an appointment so he can help you with your mortgage foreclosure issue. He offers a free initial consultation.
To learn more about Larry Tolchinsky, click on this link: Florida Real Estate Lawyer
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