deed in lieu: Foreclosure Options For Home Owners
- 02/25/08 03:50 PM
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 few terms and options that homeowners should have available as options for available alternatives to foreclosure. Foreberance: A company will attempt to stall or reduce your payment by submitting a hardship package on your behalf. Many times the lender will work with a "foreclosure assistance" company before working with an individual attempting to … (3 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 few terms and options that homeowners should have available as options for available alternatives to foreclosure.
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