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Deed in Lieu of Foreclosure

Are you facing the foreclosure of your home?

When threatened with foreclosure, it may be possible to negotiate with a lender for a deed in lieu of foreclosure. Given the current economic climate, many Orange County homebuyers are facing mortgage problems, as they bought during the subprime mortgage boom and could not refinance at a reasonable rate, and now have a mortgage far beyond the current market value of the property. Some have suffered an unforeseeable financial hardship, such as job loss, a divorce or a costly medical situation that has seriously impacted their finances.

Whatever the circumstances behind your current hardship may be, if you are faced with foreclosure, it is essential that you speak to an Orange County bankruptcy attorney about a deed in lieu of foreclosure or other options that could help you get your finances under control. Contact our firm today for help!

A deed in lieu of foreclosure is a form of foreclosure defense in which an individual offers his or her mortgage lender the deed to their home in exchange for the dissolution of debt. In this way an individual can avoid the negative consequences of a foreclosure and escape the financial burden of paying for a property that has plummeted in value.

A deed in lieu can be a workable solution if you are considering filing for bankruptcy. Usually individuals turn to a deed in lieu of foreclosure after all attempts at loan modification or short sale have failed. In order to determine if a deed in lieu of foreclosure is the right decision, you should have the legal expertise of a qualified attorney.

How a Bankruptcy Lawyer in Orange County Can Help

If you are facing difficulties with your mortgage and are uncertain about how to resolve it, we can help. Banks are often more willing to work with an attorney than the mortgage holder, and we can negotiate on your behalf, or even seek a loan modification if you are hoping to keep the property. At 1st California Law, we pride ourselves on providing our clients with the legal expertise necessary to take action to negotiate a deed in lieu of foreclosure.

No matter how serious your situation may be, it is absolutely essential that you think to the future. Our firm is here to help safeguard your future and protect your interests. Contact us today for a free case evaluation!

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