Deed In Lieu Of Foreclosure
  • $1 Billion+

    in Distressed Real
    Estate Represented

  • 1,000+

    Foreclosure Sale
    Dates Avoided

  • 93%

    Successful Settlement Rate
    with Mortgage Lenders

What is a Deed in Lieu of Foreclosure?

It is a process in which a homeowner voluntarily signs over their property to the lender to avoid foreclosure. It is typically done in situations where the loan amount far exceeds the value of the property, and the homeowner wants to just “walk away.”

Advantages of a Deed in Lieu

The objective, for the homeowner, is to have the lender waive any “deficiency” from the sale of the property. A deficiency is the amount left unpaid on the loan after the property is sold for less than what is owed against it. In many situations, this is a distinct possibility, in others it is more challenging.

Most lenders have very strict requirements and qualifications for a accepting a deed in place of foreclosure, and it is not something homeowners can typically accomplish by themselves. The process can be long and burdensome and most homeowners attempting to negotiate on their own behalf simply don’t have the time and industry expertise to follow through.

What to Expect during the Deed in Lieu Process

The process begins like most other negotiations with the lender, the borrower must complete and submit a financial package with documentation relating to income, expenses, assets, and debts. The financial package submitted must tell the borrowers story on paper in a compelling manner including the circumstances which led to the inability to afford payments. Next the lender usually schedules a comprehensive inspection of the property and eventually determines if they want to accept the deed to the property.

Let Our Experienced Foreclosure Attorneys Assist You

The attorneys at McFarlin LLP have years of experience in all aspects of foreclosure law and give you the best chance of avoiding foreclosure. If you have an questions please do not hesitate to reach out. Deed in lieu may be an option, but it must be submitted and negotiated properly.

We have the expertise to work with your lender(s) and resolve your foreclosure issues efficiently; call today for a free case evaluation (949) 570-5025, or contact us online.

Hear What Our Clients Are Saying

  • “Everyone I dealt with at this firm was both caring and professional and I thank them.”

    - Len Brown
  • “Tim and his gang of awesome lawyers have helped my family the past five years.”

    - Whitie Rhodes
  • “Their representation was efficient and effective and things worked out in our favor.”

    - Madison Loyola
Discover Our Book on
Making Personal Investment Foreclosure Decisions

Awards & Memberships

  • As Heard On Go Country 105 FM
  • Debt Relief Radio on KABC 790 Saturdays at 2PM
  • As Heard On KNX 1070

Schedule a Free Case Evaluation Today

Contact Us
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.