Deed in Lieu of Foreclosure

In some circumstances, the lender may allow you to simply give the house back to the lender without any foreclosure lawsuit. Generally, a deed in lieu can only be done if you do not have a second mortgage or any other lien against your property. Another factor for deed in lieu transactions may be whether there are any tax consequences for the debt that is being forgiven.

Maxwell Attorneys LLC are experienced and knowledgeable about the benefits and consequences of offering the lender a deed in lieu of foreclosure proposal. Contact our offices today at 414-727-0123 for an appointment.