Deed in Lieu

Deed in Lieu

If you are a homeowner facing foreclosure, filing for a deed in lieu of foreclosure may be a good option. Basically, you give the home back to the lender. In exchange, the lender does not foreclose on the property. In some cases the lender may require you to pay back the remaining balance; this is known as the deficiency. It is important that you speak with an experienced attorney who can help you reach the most favorable resolution.

Alliance Legal Group has experienced attorneys that can help you. Here are some of the benefits of a deed in lieu:

  • You are released from any indebtedness tied to the loan
  • The affect on your credit is not as high as with a foreclosure
  • You are not responsible for selling the home

Contact Alliance Legal Group! We’ll help you determine if deed in lieu of foreclosure is the right step for you.