Deed in Lieu
This is an agreement that you sign along with the deed to your home to allow the bank to own your property without court intervention. If you have a pending foreclosure case and decide on this option, your foreclosure case will be over. It is important to understand some of the terms in the agreement can be negotiated. Some of these terms include time you are able to remain in your home before you must leave and the amount of money you can receive in exchange for agreeing to sign your home to the bank. An important term you want in the agreement is called a deficiency waiver. A deficiency waiver prevents you from being liable for any difference between the bank believes your home is worth and the amount you owed on the loan. For example, if you owed $250,000 and the bank believes your home is worth only $150,000, without a deficiency waiver, you could be on the hook for the $100,000 difference.
What Are My Other Options?
Click here to learn about the other options you may have.
Your Next Steps
1) Call 877-595-3529 to schedule a free consultation with a foreclosure litigation attorney.
2) Get sound legal advice and find out what legal options are available to you.
3) Let us take action in your court case.
4) Smile with Kyle.
Kyle & Kyle Law has over 20 years of experience and has helped thousands of homeowners like you. This is probably the first time you have faced foreclosure. Well, it is not our first time. We have helped thousands of homeowners just like you. We care about your time and your future. Our goal is to help you understand what options are available to you, help you make a decision on what to do next, handle your court case, and allow you to take control of your future and Smile with Kyle.