Deed in Lieu of Foreclosure

Why a Deed in Lieu?

Each financial situation is different and while bankruptcy may work for some, others may find that loan modification, debt consolidation or a short sale of their home is the best solution. In some cases, deed in lieu of foreclosure may be the very best method to tackle a tough financial problem.

A deed in lieu allows you to transfer the deed of your property to your lender. In return, you avoid home foreclosure plus, in many cases, have the entirety of your mortgage deficiency discharged. This is a good faith transaction that must be done voluntarily by both parties. A proven Minnesota bankruptcy attorney has the ability to negotiate with your lender and the know-how necessary to correctly prepare the required legal documents to successfully conclude the transaction.

Heimerl & Lammers have many years in the practice of law and helping individuals to get a new start on their finances. Unfortunately, many individuals wait until they are about to be foreclosed on in order to decide that they cannot keep their home. If you want to find out more about a deed in lieu or feel that this may be correct for you, we urge you to contact us quickly.

Debt Relief

For some, a deed lieu may be the proper action to take as there is simply no way to make the required mortgage payments. These individuals may have tried loan modifications or a Chapter 13 bankruptcy but, in the end, they just don't have sufficient income to make the needed payments. Others have tried all methods to avoid foreclosure but their situation and time do not provide a viable alternative to keeping their home.

A deed in lieu of foreclosure is capable of putting you into a situation where all or a large portion of your debt situation can be quickly relieved. In addition, it does less harm to your credit than a foreclosure will, which can help in credit restoration.

Our success and continued growth comes from helping good people, like you, through tough financial times. The start of your debt relief can be as simple as a phone call to our office.

To learn how a deed in lieu of foreclosure may be the right answer to your debt problems, quickly contact a Minnesota deed in lieu lawyer from our office.