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Blog entries tagged with "deed in lieu":
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Let me first apologize, as this is my first time writing a real blog, and I am quite sure it will show. I am not a lawyer, nor a CPA and recommend you speak with both if you are considering any and all options that I am about to outline. I … (0 comments)
Are you facing tough decisions as you are dealing with your lender who is going to foreclose on your home? Should you do a short sale or a deed in lieu? Or should you just walk away?
Despite the sense of helplessness, borrowers have options to help avoid Foreclosure. 
Despite the sense of helplessness, borrowers have options to help avoid Foreclosure. 
Determining if a deal is Viable
The City of Winter Garden will be sponsoring a Pre-Foreclosure workshop to educate the public on this serious subject. There will be an informative presentation by one of the nation's leading speakers on foreclosure prevention, as well as a panel of professionals with experiance and training in their prospective areas. There … (0 comments)
Basic Primer - the Mechanics of a Mortgage Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios-
I had an interesting conversation yesterday with a seller. The seller owns property in Florida which was purchased as an investment. The property's just value according to the property appraiser is about $225,000. The owner owes over $400,000. The proeprty has been listed for some time and I was discussing the … (1 comments)
Deed-in-Lieu of foreclosure is when a homeowner transfers or gives their property to the lender in exchange for cancellation of the mortgage; also referred to as "cash for keys".
If you have incurred a long term financial hardship and your house has been on the market (at fair market value) for at least 60-90 days, you may be eligible for a deed-in lieu of foreclosure. To be considered for this option, you must complete a financial package and provide a … (1 comments)
I was speaking with a 1031 exchange client yesterday regarding their real estate portfolio. He has a number of single family residential investment properties as well as his primary residence. His primary residence is underwater by about $200,000.00 and he was looking for advice on what to do about it. 
… (2 comments)
How does Loss Mitigation work? I’m glad you asked! Your clients are looking to you for advice during this turbulent real estate time. By teaming up with a Loss Mitigation company, you are offering your client a “life raft” in the storm. Equity Management Solutions offers the BEST POSSIBLE real … (2 comments)
Two innovative new programs, just released on the market, assist homeowners and investors facing property foreclosure in saving their homes, money, investment and credit rating.
There are many people who are behind on their mortgage payments and feel that it is their personal failure. It is normal to feel bad when you cannot meet a financial obligation. What I am proposing is that you do not let these feeling paralyze you from taking the necessary action … (6 comments)
A law client recently asked me to prepare a "short sale" letter for him. Unfortunately, he didn't have a buyer for his home, so the short sale letter would have been of little use. There does seems to be a widespread mis-understanding regarding the difference between a short sale and a deed in lieu of foreclosure.
Are you reading headlines like these?
In April, Fannie Mae loan servicers will have another option to offer to their borrowers. HomeSaver Advance will be their newest loss mitigation option to look to for delinquent mortgages. The key to this option will be that a borrower can show that the reason that triggered their delinquency - i.e. … (2 comments)
If you are behind on payments and wanted to know what options are available, many time professionals forget the simple options to homeowners. For professionals in the foreclosure business, we use terms such as deed-in-lieu, foreberance, loan mod, and other terms that homeowners may not. I have come up with a … (1 comments)
If you are facing FORECLOSURE you have options, 
The hot button in real estate these days is the Short Sale. "Short Sale" is not an official real estate term. It's a vernacular expression encompassing a real estate transaction where a seller received an offer from a buyer to purchase the seller’s property. The offered price, however, is less that … (3 comments)
After the recent developments with Countrywide Home Loans I though readers might be interested in an update to my first three posts on "Hanging On To Your Home".
Yesterday, a fellow investor sent me the following email regarding Short Sales Vs. Deed In Lieu:
There are many do's and don't's related to foreclosure proceedings. We'll have a follow up blog soon with more on that, but for one thing, don't move out of your home, as you may not qualify for certain types of assistance if you move out. We'll also be posting a list … (11 comments)
I received a call from a friend who has a home in a declining value neighborhood in Concord, California.
Foreclosure is a complicated and serious issue that varies from state to state, with many legal, tax, and credit history implications. You need to find real estate, tax, and legal professionals in your local area who are knowledgeable about the process, and who you can meet with face-to-face for guidance on … (4 comments)
The Impact of Short Sales vs Foreclosures on Credit Reports
A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e., the borrower) conveys all interest in a real property to the mortgagee (i.e., the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.
The NATIONAL ASSOCIATION OF REALTORS® praised the House Ways and Means Committee for taking positive action this week on the Mortgage Cancellation Tax Relief Act, H.R. 3648. Since the early 1990s, NAR has pursued repealing the law, which forces individuals to pay an income tax on mortgages that have been forgiven … (2 comments)
The times are definitely changing for mortgage lenders and investors as they realize that they have a very real potential for a flood of REO properties to deal with in Hemet CA and eslewhere. In order to prevent the foreclosure and pending inventory of REO properties, the industry is starting to … (4 comments)
In troubled times homeowners sometimes go into denial, thinking if the situation is ignored, it will go away. The fact is, if you are having trouble making your mortgage payment sooner or later you will have to face up to the situation. It's best you face up to it as soon … (6 comments)