Mortgages Real Estate Short Sale Deed In Lieu Loan Modification Escrow Settlement
LEGAL AID
Non Attorney Advice Assignments Deeds Power of Attorney Promissory Notes Incorporation Contracts
Foreclosure Prevention Deed-in-lieu
Deed-in-lieu of Foreclosure: If you cannot sell your home in a reasonable amount of time, your mortgage company may allow you to voluntarily transfer the deed to the property to the mortgage company.
A deed-in-lieu is considered appropriate under these circumstances:
Mortgage is seriously delinquent
Property has been on the market as a pre-foreclosure sale for three or more months without a reasonable offer
There are legal impediments that do not permit foreclosure proceedings to take place
It is the "last resort"
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