An Explanation Of The Differences Between A Short Sale And A Deed In Lieu Of Foreclosure
One of the largest expenses most families have each month is their mortgage payment. So when money gets tight, it is only natural to try and figure out how to reduce expenses so necessities can be paid for each month. But when there is no wiggle room and you are unable to find a way to keep current on your house payment, the lender will start the foreclosure process. If that happens, you do...
What Is A Deed In Lieu Of Foreclosure?
When in the middle of a foreclosure, and after having exhausted all efforts to save your home has proven unsuccessful, it is possible to get out of the foreclosure by giving the property back to the lender. When agreeable to the mortgage holder, offering a deed in lieu of foreclosure can stop the pending foreclosure and allow you time to remove your belongings from the home. There are...