Long Island, Nassau and Suffolk Foreclosure Defense Lawyers
Deed in Lieu of Foreclosure
A deed in lieu of foreclosure is a possible option for homeowners facing foreclosure proceedings. Generally defined, a deed in lieu of foreclosure occurs when you give your property back to the lender because you can no longer afford your mortgage and cannot get current again. The lender will then sell the property in order to recover part or all of the loan balance that you owed. With a deed in lieu of foreclosure, a homeowner is able to keep the negative effects of a foreclosure from his or her credit.
Are you interested in discussing whether a deed in lieu of foreclosure may be an option for you in order to avoid foreclosure? Consult a Long Island foreclosure defense attorney at Jacoby and Jacoby to find out the true effects of this process and to see whether it may be right for your particular situation. With our extensive experience in this field and our dedication to help our clients face better financial futures, we provide accurate evaluations and take the appropriate action to help our clients avoid foreclosure.
At Jacoby and Jacoby, we represent clients throughout all of Long Island, Nassau, Suffolk and the surrounding areas in New York. We also offer a free initial consultation to discuss whether a deed in lieu of foreclosure is right for you.
How an Attorney Can Help
If you do not want to keep your home but want to avoid foreclosure, a deed in lieu might be the right option for you. Keeping the negative effects of foreclosure off your credit report is important, and an attorney can help ensure that this occurs. A skilled lawyer can review your particular situation and can make sure that the process is completed correctly, including negotiating with the lender, to make sure that you reach the desired result.
Contact a Long Island foreclosure lawyer at Jacoby and Jacoby today.