Experienced legal representation on your side during the deed-in-lieu of foreclosure application process with your mortgage lender is important. If you are approved for this process, you will exchange the deed to your home to release yourself from all obligations under the mortgage agreement. Consult with a lawyer who helps homeowners in your region negotiate with lenders on a regular basis.
At the Law Offices of Leo T. White, LLC, you have access to the personal service of a Delaware Valley area attorney who is also a regional title insurance company owner and a licensed real estate broker in Pennsylvania. Attorney Leo T. White can help you understand your options to resolve financial hardships, avoid foreclosure, avoid deficiency judgment and protect your rights under the Fair Credit Reporting Act (FCRA).
Email or call Leo today at (610) 579-9141 to schedule a free initial consultation. The Law Offices of Leo T. White, LLC, maintains offices in Philadelphia, Phoenixville and Doylestown to serve homeowners throughout southeastern Pennsylvania and South Jersey.
What Are The Benefits Of A Deed-In-Lieu Of Foreclosure?
Many people question whether alternatives to foreclosure or bankruptcy are worth their time. Each situation is different, but several short- and long-term financial advantages are available to homeowners who take proactive action to consult with an attorney who is familiar with all options and outcomes in the real world.
Leo T. White’s counsel, legal due diligence, leadership through negotiation and aggressive representation can provide your unique situation with the following benefits:
- Foreclosure defense and prevention
- Thorough review of lien removal requirements, deed-in-lieu of foreclosure eligibility requirements and all necessary documentation to ensure a proper closing of the transaction
- Assistance drafting the deed-in-lieu of foreclosure application
- Elimination or reduction of remaining mortgage debt through the deed-in-lieu process
- Examination of eligibility for relocation assistance from the U.S. Department of Housing and Urban Development (HUD)
- Quicker repair of credit through the deed-in-lieu process as compared to foreclosure
- Quicker eligibility to purchase a new home through Fannie Mae as compared to foreclosure
- Advice and guidance on avoiding deficiency judgment following completion of the transaction
What Is A Deficiency Judgment? How Can Leo T. White Help?
When your home is upside down, meaning you owe more on your mortgage loan than the present value of your home, the creditor or lender that takes ownership of your home may file a petition to pursue the deficiency balance within six months. The deficiency could amount to tens of thousands of dollars.
It is critical to work with Leo T. White to ensure that your home is valued at the fair market value. He can respond to any petition and secure a fair appraisal of your home to minimize the deficiency, but he can also perform due diligence upfront to avoid a deficiency judgment.
No aspect of the deed-in-lieu of foreclosure process should be overlooked. Part of the closing agreement should include a contract with the lender that it will not pursue a deficiency judgment and that a note be included on your credit report showing the deficiency has been satisfied.
Contact Pennsylvania And New Jersey Deficiency Judgment Defense Attorney Leo T. White
Email or call Leo T. White directly at (610) 579-9141 to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.