Law Blog

If you are a property owner who has missed several payments and faces default on a mortgage, you might hear about a legal proceeding known as a deed in lieu of foreclosure. Once you determine that you do not have recourse to a loan modification, personal bankruptcy or a short sale of the property, you may consider a deed in lieu of foreclosure.

Under certain circumstances, the mortgage holder may be able to turn the deed on a property over to the lender in exchange for the... Read More

As with a standard deed in lieu of foreclosure, a “forced” deed in lieu is a legal avenue that borrowers in default and facing disclosure might come across. In a forced deed in lieu, a borrower follows all the requirements to obtain a deed in lieu without yet having the lender's consent to the proceeding. In other words, the borrower begins the process hoping that the lender will later agree.

Risk of Forced Deed in Lieu

The forced deed in lieu carries greater risk... Read More