Stop Imminent Foreclosure in Florida with Deed in Lieu

Get a qualified Florida foreclosure defense team to handle your Deed in Lieu

If foreclosure is imminent, get a qualified Florida foreclosure defense lawyer to help you navigate the process safely. Getting a lender to accept a deed-in-lieu is more difficult than it used to be, but a Florida foreclosure defense team on your side can help make it work for both borrower and lender.

The problem is centered around the fact that lenders don’t want any more real estate on their hands. They already own hundreds of properties where foreclosure auctions failed; however, the buyers are coming back and a foreclosure lawyer can make sure that the bank understands deed-in-lieu is a better deal than to incur the expense of foreclosure.

How Deed in Lieu Stops Foreclosure in Florida

When all other options have failed and foreclosure is inevitable, you may be able to qualify for a deed in lieu of foreclosure with strategic advice and the right legal actions advised by a Florida foreclosure defense attorney. In simple terms: a deed in lieu means handing ownership of your house back to the lender to avoid foreclosure proceedings, and the related damage to your credit, altogether.

The benefit of deed in lieu is that the homeowner is immediately released from most or all of the personal debt associated with the defaulted loan. Lenders are willing – with the right motivation – to accept a deed in lieu of foreclosure to avoid the time and cost of repossessing a home through foreclosure.

Consider these Aspects with Deed in Lieu of Florida Foreclosure

There are a few things to consider when using deed in lieu as part of your Florida foreclosure defense strategy:

  1. You may need to list your home for sale for a period of time before the lender will accept deed in lieu. Often this turns out to be a simple delay strategy because the bank knows the home’s value has dropped. Potential buyers know the home’s value has dropped too and so no one is usually willing to pay the previously inflated home price.
  2. Many lenders have cash incentives to help distressed borrowers relocate. These cash incentives – sometimes called ‘cash for keys’ can help pay the moving costs for a borrower who chooses the deed in lieu route to stop foreclosure in Florida.
  3. A deed in lieu judgment will have a negative impact on your future home buying for some years in the future.

When considering your options to stop foreclosure in Florida, don’t hesitate to get in contact with a foreclosure defense team that can help you safely navigate the many options available. Deed in lieu should be used as a last resort and only when it’s handled appropriately by a foreclosure defense attorney can you be sure that you’ll be fully released from your mortgage debt and you can move on. If deed in lieu is right for you, your Florida foreclosure attorney can make sure you get the most you can out of the situation.

Whatever your situation may be, getting the right advice and legal counsel can help you. For a no cost, no obligation consultation and review of your case call a Legal Help Group professional right now at (877) 304-9404, or fill out the “contact me” form to connect with a Florida foreclosure defense attorney.

Back to Resources