Deed in Lieu of Foreclosure

GET OUT FROM UNDER YOUR HOUSE

When facing the possibility of foreclosure, homeowners may feel as though they have limited options to save their homes. It is important to know that options do exist to stop the foreclosure process and possibly even stay in your home. Deed in lieu of foreclosure is one of these options.

At The Law Offices of Kassab Arabo, PLLC, we represent homeowners throughout southeast Michigan who need help avoiding foreclosure. To speak to a deed in lieu of foreclosure attorney from our firm to learn about your specific options, please contact us online today.

HOW DOES DEED IN LIEU OF FORECLOSURE WORK?

A bank may accept a deed in lieu of foreclosure from the homeowner to avoid foreclosure. Essentially, the homeowner is voluntarily giving the property back to the bank to be released from the outstanding debt, and the bank assumes ownership of the property. It may be possible for the homeowner to work out an arrangement with the bank to stay in the home.

The deed in lieu of foreclosure process is complex, and it is advisable to work with a foreclosure attorney to ensure that the steps are completed properly. If your goal is to stay in your home and to avoid foreclosure, you should talk to a lawyer to learn how this process can work for you. Additional foreclosure avoidance options may also be available such as a short sale or loan modification.

CONTACT A WEST BLOOMFIELD MORTGAGE WALKAWAY LAWYER

Through a deed in lieu of foreclosure, you can get rid of your full deficiency, the bank can forgive your debts, and you can get out from under your house all in one transaction. To learn more, please contact us today at 248-702-5956 for help with your finances. We offer a free initial office consultation. Our office hours are 8 a.m. to 5 p.m. on Monday through Friday, and evenings and weekends by appointment. Our firm is in West Bloomfield, Michigan. We serve southeast Michigan.