Move N Places • Equal Opportunity Housing
Contact Info
You can reach me at (480) 390-7369 (Direct). You can also send email to PatrickHarvey@cox.net
Move N Places
202 W Main St #101
Mesa, AZ 85201
Deed in Lieu
A Deed in Lieu of foreclosure is a deed in which the borrower conveys their property to the lender to satisfy a loan that is in default and avoid an actual foreclosure.The advantage to the borrower is that it releases their indebtedness associated with the defaulted loan. The borrower also avoids the foreclosure and may get better terms than they would in a formal foreclosure. It also hurts their credit less than a foreclosure does. The lenders like it better because it is generally faster and cheaper. However it can be difficult to get a Deed in Lieu.
For more information, contact me or read a blog I write with a local Real Estate Attorney.