DEED IN LIEU OF FORECLOSURE

Sometimes, it is the borrower's desire to turn the property over to the lender rather then force the lender to complete the foreclosure lawsuit.  This solution prevents the lender from obtaining a judgment of foreclosure and can result in the lender agreeing to waive a deficiency judgment against the homeowner.  Simply put, in exchange for deeding the property  to the lender, the lender waives the right to obtain a judgment against the homeowner.

Lenders are becoming more and more open to the possibilities of a Deed in Lieu or Short Sale due to the looming amount of home loan defaults. However, a Deed in Lieu of Foreclosure can have huge tax consequences to the homeowner. It is extremely important that you seek the advice of an attorney and tax professional in pursuing this option.  We offer affordable rates starting at $550.00 down and $275.00 per month.

Most lenders require the borrower to submit the following documentation to be considered for a Deed in Lieu(which can be found on our "Forms" page):

-    RMA Form

-    Last years Income Tax Return

-    IRS Form 4506T

-    Hardship Letter

-    Two Months of Proof of Income

-    Two Months of Banking Records

-    Two Months of Statements for all Accounts Listed on RMA Form

FOR A FREE CONSULTATION CALL: (239) 334-0075