Deed In Lieu of Foreclosure Property Appraisals and Home Appraisers
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McLean & Associates, Inc
appraisal and real estate consulting
appraisal and real estate consulting
| Toll Free: 866-775-3395 Palm Beach: 561-674-0498 Cell Line: 954-415-1630 Fax Line: 561-892-0913 |
| www.FastFloridaAppraisals.com - Michael W. Bode - McLean & Associates, Inc. |
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under the mortgage. Both sides must enter into the agreement voluntarily
under the mortgage. Both sides must enter into the agreement voluntarily
and in good faith.
and in good faith.
A deed in lieu of foreclosure has advantages for both a borrower and a lender;
mainly the avoidance of time consuming and costly foreclosure proceedings.
In addition, the borrower avoids some public nDeed In Lieu of otoriety, and
may even be able to lease the property back from the lender
under the mortgage. Both sides must enter into the agreement voluntarily
and in good faith.
and in good faith.
A deed in lieu of foreclosure has advantages for both a borrower and a lender;
mainly the avoidance of time consuming and costly foreclosure proceedings.
In addition, the borrower avoids some public nDeed In Lieu of otoriety, and
may even be able to lease the property back from the lender
The homeowner need to assess certain risks which include, among other things, the risk that the
property is not worth more than the remaining balance on the mortgage and that junior creditors might
hold liens on the property.
This won't save your house, but it is not as damaging to your credit rating as a foreclosure. You may
qualify if:
property is not worth more than the remaining balance on the mortgage and that junior creditors might
hold liens on the property.
This won't save your house, but it is not as damaging to your credit rating as a foreclosure. You may
qualify if:
- You are in default and don't qualify for any other options
- Your attempts at selling the house before foreclosure were unsuccessful
- You don't have another FHA mortgage in default
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