Table of Contents

2 min read Feb 01, 2024

Deed In Lieu of Foreclosure

A Deed In Lieu is a legal agreement that keeps homeowners away from foreclosures. Deed in lieu of foreclosure takes place between the homeowner and the lender. It may help you avoid being liable for any remaining mortgage amount. Borrowers can even ask lenders for their relocation expenses, sometimes called cash-for-keys through private programs. After the completion of the deed in lieu, the lender tries to sell the property to recover the remaining loan amount.

Pros and Cons of Deed In Lieu

There are some Pros and Cons of Deed In Lieu. They are as follows:

Pros

  • May be advantageous to buy a house quickly.
  • It will have a lower bad impact on your credit card score as compared to a foreclosure.
  • Embarrassment can be avoided because your home will not be listed as foreclosed.

Cons

  • The homeowner will lose the ownership of your home and any equity that you might have.
  • You may not be able to opt for other options like mortgage relief or loan modification.
  • You will have to leave your home very soon.

Find Your New Home With Houzeo

With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of homes for sale on Houzeo.

Find Your Dream Home 🏡

text 1st item

text2nd item

text3rd item

Find Your Dream Home 🏡

text View 14,618,739 Homes For Sale in the US

text1st item

text2nd item

text3rd item

Find Your Dream Home 🏡

View + Inspectors in the US

Find Your Dream Home 🏡

View 14,618,739 Homes For Sale in the US

Where do you want to live?

» Need More ClarityRead these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.

Related: deed in lieu tax consequences 2020, what is deed in lieu, deed in lieu vs foreclosure, foreclosure deed, deed in lieu of foreclosure florida, deed in liu, deed condition, deed in liue, a deed, deed of lieu vs foreclosure, deed of release mortgage, what is transfer of title in lieu of foreclosure, deed in leu, deed 中文, deed in lieu of forclosure, deed in lieu of foreclosure sample, deed in lue, deed in leiu, lieu of, deed under power, foreclosure deed in lieu, deed-in-lieu, deed of lieu of foreclosure, adeed meaning, a deed-in-lieu of foreclosure:, voluntary forclosure, ddil meaning.

Uncategorized

Save $20

On Silver & up plans

Use Coupon Code:

Copied
Need help? Call us on
(844) 448-0110