Category: Deed in Lieu of Foreclosure
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To Avoid Foreclosure, Which Should I Do: Deed in Lieu? Or Short Sale?
OK, it’s decision time. You’re dealing with financial challenges: a breakup, employment shakeups, or just too much debt against your property. You hold a deed, but can’t keep up with your housing costs. And you definitely want to avoid having a foreclosure on your credit history. What should you do now? A deed in lieu…
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Understanding the Deed in Lieu of Foreclosure Process
Losing a home to foreclosure is devastating, no matter the circumstances. To avoid the actual foreclosure process, the homeowner may opt to use a deed in lieu of foreclosure, also known as a mortgage release. In simplest terms, a deed in lieu of foreclosure is a document transferring the title of a home from the…
