Deed In Lieu Of Foreclosure Attorneys of New York

A Deed in Lieu of Foreclosure can help you avoid foreclosure or the auctioning of your property.
A Deed in Lieu can also assist in rebuilding your credit quicker than going through foreclosure.
Find out how one of our New York Mortgage Debt Lawyers can help YOU!

Deed In Lieu Of Foreclosure Attorney Representing New York

The need for a Deed-in-lieu of foreclosure attorney may arise when a homeowner that is in default on their mortgage payments wants to hand their property back over to their lender.  If you are unable to sell your property – either as a short sale or for the amount you owe to your bank – you might want to look to into hiring a deed-in-lieu of foreclosure attorney, as a way of trying to avoid foreclosure in New York or elsewhere.  If properly negotiated, a deed in lieu of foreclosure means your lender will not take you into foreclosure, or, will dismiss their current foreclosure action and promise not to collect any deficiency balance resulting if your property sells for less than the amount owed on the mortgage loan.  When negotiating a deficiency balance, it can mean savings from several thousand to upwards of hundreds of thousands of dollars.  An experienced deed-in-lieu of foreclosure attorney, can be worth their weight in gold!


Benefits to Hiring a Deed in Lieu of Foreclosure Attorney in New York

Your lender would rather have you do the work in trying to get rid of the property by selling it to someone else rather than having to take it back from you and maintain the property and pay the taxes while it sits vacant.  Before we can negotiate a deed in lieu of foreclosure for you, your property must have been for sale on the market for about six months or so, but the requirements differ with each lender.  While on the market if there any reasonable offers you receive in writing, we present them to your lender through our short sale attorney negotiations.  If you do not receive any offers, we instead will help try to turn your property back to your lender, through the Deed in Lieu negotiation process,  which will benefit both you and your lender as opposed to having the property go through foreclosure.

A Deed in Lieu of Foreclosure can benefit both you and your mortgage lender for different reasons! For you, instead of losing your property to foreclosure, you would be released from the obligation to pay your mortgage loan, and the past due amount owed, if any, would be forgiven.  As for your lender, they’d rather you sell your property, but if you’ve been unable to do so, it usually makes sense for them to avoid having to foreclose and avoid the attorney’s fees associated with foreclosure.  Instead, we work out a deed-in-lieu, a mutually beneficial agreement for your lender to accept your property back.  Since you are helping your bank save their time and money (as well as your own), they are more likely to forgive you of any past due amount or deficiency balance owed.  A Deed in Lieu can also help to rebuild your credit quicker than going through foreclosure, as it will reflect more favorably on your credit reports.


Not just any Deed in Lieu of Foreclosure Attorney, one of ours!

If you have been unsuccessful in attempting to Short Sale your property or in negotiating a deed in lieu of foreclosure, one of our Mortgage Relief Attorneys may still be able to help.  We can evaluate your case and see if maybe there was a slight error on your part that caused your denial, and can then resubmit a request for you properly.  Alternatively, if your lender denied you even though your proposal was accurate, then perhaps instead we can help avoid foreclosure in New York with one of our Foreclosure Defense Attorneys.

At Dramer Law, before making any recommendations, our debt lawyers, mortgage relief specialists, and paralegals ask the right questions to find out more in detail about your unique situation. Based on factors such as your income and financial hardship, we help determine which option will work best for you. We don’t only offer one choice since no one option can solve each of our clients’ specific needs. Call now, and one of our debt lawyers is waiting to get you started on the road to a debt free and stress free future.  There is no obligation so don’t delay…CALL TODAY!


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*Individual results may vary based on consumer’s earnings, assets, and current mortgage loan situation.  Our law firm does not assume or pay your mortgage, nor provide credit or tax advice about any forgiven amounts. Mortgage assistance does not obtain immediate repayment arrangements.  Mortgage assistance is not available in all states.

*Be wary of any company that tells you not to pay your mortgage loan as it may have a negative impact on your credit report and other consequences.  For example, your mortgage loan may continue to accrue late fees and penalties; you also may receive calls from your lender and/or their collectors; you could even be sued for non-payment.  If your lender obtains a judgment against you, then you may lose your home.  Make sure you choose a company that explains the benefits and consequences of each mortgage relief option.

*The information provided on this site is for general information and educational purposes only.  The information presented should not be considered legal advice, and should not be misconstrued as such, and should most definitely not be acted upon without first consulting with an attorney. The information is subject to change without notice. Consult a debt relief lawyer licensed in your jurisdiction for specific advice.

*We provide Debt Relief services and are a debt relief agency, as defined by the U.S. Congress. We proudly assist people filing for bankruptcy relief under the Bankruptcy Code as well as various other services to help avoid bankruptcy.