Deed in Lieu of Foreclosure...
As the economic conditions worsen and mortgage markets dwindle , mortgage borrowers are not left out of the challenges . You realize that nobody wants to face foreclosures , but this event may happen if you do not take action early . Whether your lender has executed foreclosure proceeding or the foreclosure seems unavoidable , remember that you still have other numerous options that you can use to offer sustainable solutions. Often many people are unaware of some of the options that have worked well for homeowners with challenges of repaying their mortgage loans. Although you have several options, each of these options has its benefits and downsides . However, they are better alternatives to foreclosure. Deed in Lieu of Foreclosure A Deed in Lieu of Foreclosure is one of the creative real estate strategies that you as the homeowner can use to avoid foreclosure on your home. You can decide to deed the home back to the mortgage lender (the bank) as a last resort ...