Deed-In-Lieu

What is a Deed in Lieu of Foreclosure

A deed in lieu of foreclosure is a title-transferring document signed by the homeowner, notarized by a notary public and eventually recorded in the public records More…

Is Deed in Lieu more beneficial for bank or borrower?

In most cases a deed in lieu can favor a bank more than it favors a homeowner. Most people face the deed in lieu decision after the bank has either denied More…

Why lender would reject Deed in Lieu of Foreclosure

Here are a few reasons why a bank might refuse a deed in lieu More…

Drawbacks to a Deed in Lieu of Foreclosure

Always seek legal advice before jumping at the bit to give the bank a deed in lieu of foreclosure. Remember, it is in the bank’s interest to obtain the deed from you More…

Potential Tax Effects

Be sure to ask your accountant whether the canceled debt from your home loan could result in a tax liability. Temporarily, the 2007 Mortgage Forgiveness Debt  More…