Are You Facing Foreclosure?

How to Avoid a Foreclosure Via a Deed in Lieu

If you have gotten to this point it means you are at the last option before foreclosure.  All other loss mitigation options have been exhausted

Meaning the property has not been sold in a short sale and a loan modification is not possible.

This is where the bank will possession of the deed for the property and look to sell it as a bank-owned property(REO).

It benefits you as the lender will settle the account and avoid a foreclosure on your record. They might even pay for you to relocate. Anything is better than a foreclosure.

As a borrower, if there is no other option but to lose the property this is your best bet. You will avoid having a foreclosure on your record. This is the amicable way of working with the servicer and allowing them to take over the property as you won’t be able to continue.  You might be able to relocate or cash for keys in this process versus being removed by the sheriff in a foreclosure sale.

Foreclosure:

This is the last of all processes in a loss mitigation process.

Where the bank must go through the courts to take possession of the property from the nonpaying borrowers.

You want to avoid this at all costs.

Make sure to call and speak with your servicer if you are facing foreclosure. You will have implications on your credit and future mortgage financing.

I know it can be overwhelming and downright embarrassing but don’t let that stop you. You are not alone over 1.75 million borrowers alone are on a forbearance plan because of Covid. We are all here to help and come up with a resolution. Don’t lose your house this way. There are plenty of Cash home buyers like ourselves that will help you come out of this in creative ways.  

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We buy houses all over the United States. We specialize in providing a Fair Cash Offer to homeowners who value Convenience and Time over the hassles involved with a Retail Sales Experience.  We do not charge commissions, nor will ever ask you to make any repairs. As the homeowner, if you need to sell quickly, no matter what the reason is, you can get your cash offer now. Job Relocation? Divorce? Probate? Repairs? We handle it all. Call us Today!