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DEED-IN-LIEU OF FORECLOSURE
 As the name sounds, a deed-in-lieu of foreclosure is a process in
which the
deed to a home is signed over to the mortgage company in
return for them forgiving all, or a significant portion, of your
mortgage loan.
You are actually, in effect, giving your property to
your lender in exchange for a release of your mortgage repayment
obligation. The advantage to you is that it immediately releases most
or all of the defaulted loan.
You also avoid a full public foreclosure
proceeding. You may receive more generous terms than in a court
ordered foreclosure. The advantages to a lender are to minimize their
losses... and a significant reduction in the time, expense and red
tape, involved in a foreclosure proceeding.
Despite the fear of calling the lender to inform them of a
financial hardship or asking for help, homeowners should just
contact their bank or mortgage company and ask them what they can
do to start the process of reviewing an offer for a deed in lieu
of foreclosure.
Mortgage companies are not allowed to request their clients give
them a deed in lieu, because it must be offered voluntarily by the
homeowner.
In fact, many mortgage companies will not even suggest this option
to homeowners in default, because they do not want to be viewed as
persuading or pressuring the delinquent homeowner into giving up
their home, and of course; they would rather have the money to pay
off the mortgage or get it back on track.
Thus, it will be up to the homeowners themselves to begin the
process of speaking to the bank or mortgage company about a deed
in lieu of foreclosure.
This should be done as soon as they know they will be unable to
stop foreclosure any other way. Deed in-lieu-of foreclosure should
always be an absolute last resort to avoid full a court order home
foreclosure.
Deeds in lieu of Foreclosures are not automatically approved by
the banks or mortgage company.
You need to educate yourself about the Deed in lieu process BEFORE
you attempt to contact your Mortgage Company.
Our eBook guide will show you how!
It will significantly improve the chances of your Deed in Lieu
application being approved!
WHAT
WILL A DEED-IN-LIEU
OF FORECLOSURE DO FOR YOU?
- PREVENTS FULL COURT ORDERED FORECLOSURE
FROM OCCURRING
- WILL STOP FORECLOSURE PROCEEDINGS IF
ALREADY STARTED
- MAY ELIMINATE THE NEED TO FILE BANKRUPTCY
ELIMINATES A POTENTIAL HOSTILE AND NEGATIVE SITUATION
BETWEEN YOU AND THE MORTGAGE COMPANY
RELEASES YOU FROM FURTHER OBLIGATION TO PAY
THE MORTGAGE
ELIMINATES FORCED EVICTION AND ALLOWS YOU TIME TO PLAN AN
ORDERLY MOVE OUT OF THE HOME
WILL LIMITED THE DAMAGE DONE TO YOUR CREDIT
ALLOWS YOU TO SIGN THE DEED OVER TO THE MORTGAGE COMPANY
AND WALK AWAY
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GET YOUR DEED-IN-LIEU OF FORECLOSURE
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Deed in Lieu of Foreclosure
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EBOOK GUIDE
ABOUT US
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My
A.R.M. payments just
kept going
up and up!
And the value of the home
kept going down!
I owed more than my house was worth!
When
they cut the hours back on my job, plus stopped overtime, stress is
not the right word to describe what I was going through! I started
missing payments and I was desperate!
I went online and found this
website. I immediately downloaded this eBook and began reading it.
You don't know what it feels like when you finally find the solution
to a major problem.
I quickly put my house up for sale. I knew there many other homes for sale in
my neighborhood that were not selling.
I did not care because I knew after a few weeks I was going to
talk to my mortgage company about a deed in lieu of foreclosure.
My mortgage company was not easy to deal with. But in the end
I feel like I made them take that deed because they knew my a.r.m. and the monthly payments were a rip off and they knew the
real estate market in my area was bad and only getting worse.
The picture is me at the house right after the movers took the last
load to my new apartment.
I would
definitely recommend that anybody who wants to get out of their
mortgage get this eBook.
Kameecha M.
Detroit, Mi
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