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What Is A Deed In Lieu Of Foreclosure?

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A deed in lieu of foreclosure is when a homeowner simply turns a home over to the bank. The homeowner then no longer has any obligations to repay any portion of what he or she owes. While this seems like a simple real estate transaction on the surface, it is important to have an experienced attorney on your side to protect you.

Banks may not immediately agree to deeds in lieu of foreclosure. At the Law Offices of Daryl L. Jones, our Miami-based lawyers know how to work with banks to make them understand the benefits of accepting this option instead of foreclosing on the home. We will make certain you are protected as we guide you through this legal process.

Deeds In Lieu Of Foreclosure Vs. Short Sales

People frequently wonder whether a deed in lieu of foreclosure is better than a short sale. One of the biggest benefits of a deed in lieu of foreclosure is that there is no risk related to a deficiency. The bank will not be able to come after you for any money owed. However, with the help of a skilled attorney, that may not be an issue in short sales either.

Every situation is different. Before we recommend a foreclosure alternative, we will thoroughly review your case. We are committed to finding the best possible outcome for you.

Let's Talk About All Your Options Today

To learn more about your options, call 844-694-6631 or email us to schedule a comprehensive consultation with an experienced attorney.