DEED IN LIEU OF FORECLOSURE
If you can't afford your mortgage payment and it's time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a Short Sale or a Deed-in-Lieu (DIL) of foreclosure. In a DIL, the mortgage company lets you give the title back, transferring ownership back to them.
DEED IN LIEU has a less negative effect on your credit score than foreclosure.
DEED IN LIEU has a less negative effect on your credit score than foreclosure.
CRITERIA
You may be eligible for DIL if you meet all of the following criteria:
- You live in the home or have lived there within the last 12 months.
- You have a documented financial hardship.
- You have not purchased a new house within the last 12 months.
- Your first mortgage is less than $729,750.
- You obtained your mortgage on or before January 1, 2009.
- You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.
You may be eligible for DIL if you meet all of the following criteria:
- You live in the home or have lived there within the last 12 months.
- You have a documented financial hardship.
- You have not purchased a new house within the last 12 months.
- Your first mortgage is less than $729,750.
- You obtained your mortgage on or before January 1, 2009.
- You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.
TAKE ACTION
Foreclosure is not your only option; you can see that there are several options to consider before you go into foreclosure. DEED IN LIEU might be the right program for you.
Additional information and assistance about DEED IN LIEU can be found in the following sites:
www.makinghomeaffordable.gov
www.knowyouroptions.com
www.hud.gov
To find out if your loan is owned by Fannie Mae click here
To find out if your loan is owned by Freddie Mac click here
DISCLAIMER
The purpose of this site is to provide you with information and resources that might help you understand your options to prevent or avoid foreclosure.
I hope you find this information helpful and useful. By becoming more knowledgeable of your options I am sure you will resolve your situation more advantageously.
If you have questions about DEED IN LIEU OF FORECLOSURE or the foreclosure process contact me here or click the contact me tab. With my twenty eight years of real estate experience, I can assist you, in this sometimes complicated, situation.
Foreclosure is not your only option; you can see that there are several options to consider before you go into foreclosure. DEED IN LIEU might be the right program for you.
Additional information and assistance about DEED IN LIEU can be found in the following sites:
www.makinghomeaffordable.gov
www.knowyouroptions.com
www.hud.gov
To find out if your loan is owned by Fannie Mae click here
To find out if your loan is owned by Freddie Mac click here
DISCLAIMER
The purpose of this site is to provide you with information and resources that might help you understand your options to prevent or avoid foreclosure.
I hope you find this information helpful and useful. By becoming more knowledgeable of your options I am sure you will resolve your situation more advantageously.
If you have questions about DEED IN LIEU OF FORECLOSURE or the foreclosure process contact me here or click the contact me tab. With my twenty eight years of real estate experience, I can assist you, in this sometimes complicated, situation.
YOU ARE NOT ALONE…
If DEED IN LIEU OF FORECLOSURE is the program that best suits your situation and you need assistance or additional information to proceed in order to prevent foreclosure contact me. It is my goal to become an asset and a resource to you and to build a client for life, whether we work together now or in the future, your questions will be answer at no obligation to you.
If DEED IN LIEU OF FORECLOSURE is the program that best suits your situation and you need assistance or additional information to proceed in order to prevent foreclosure contact me. It is my goal to become an asset and a resource to you and to build a client for life, whether we work together now or in the future, your questions will be answer at no obligation to you.
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TOOLS
Start preventing foreclosure today. Making Home Affordable will end on December 2013.
Click here to download the official Making Home Affordable handbook and to download the forms require for the Home Refinance Program (HARP), the Home Loan Modification Program (HAMP) and Short Sale (HAFA).
Start preventing foreclosure today. Making Home Affordable will end on December 2013.
Click here to download the official Making Home Affordable handbook and to download the forms require for the Home Refinance Program (HARP), the Home Loan Modification Program (HAMP) and Short Sale (HAFA).
This site is courtesy of Henry Diez “Your preferred Realtor of choice”
For all your real estate needs visit www.qualityservicerealty.com
Assisting buyers and sellers since 1995