Deed-in-Lieu Transactions

Bankruptcy Alternatives

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When you are behind on your mortgage in New York, it is possible that your lender may agree to a deed in lieu of foreclosure.

What this means is that instead of foreclosing on the home, the lender accepts the deed to the property as full satisfaction of the mortgage debt.

The advantages to a deed in lieu of foreclosure are 1) that the mortgage debt is wiped out in full; and 2) that your credit is not affected in the way it would be had foreclosure or bankruptcy taken place.

Contact us if you are having trouble making your mortgage payments – we can help.

Fill out the form below or call us at 646-326-9971 for a free in-office consultation.