Arrange Break Deed For Free

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A deed in lieu of foreclosure is different from a short sale because it transfers the property to the lender instead of selling it to a new buyer.Most lenders find this option less appealing than a short sale because they will need to handle the logistics of the sale instead of the homeowner.

Steps in the Deed in Lieu of Foreclosure ProcessContact your lender, explain your situation, and ask to begin the DIL process.Provide documents that show your income, monthly expenses, and bank account balances.Respond to requests for additional details, and allow time for your lender to process your request.More items...

Quitclaim deeds are most often for transferring property between family members or to cure a defect on the title, such as a misspelling of a name.They may also be used when a property transfers ownership without being sold, that is when no money is involved.

Absolute Auction. Bank-Owned Property. Deed in Lieu of Foreclosure. Distress Sale. Notice of Default.