Think About Other Options Before Pursuing Deed Lieu of Foreclosure
The threat of foreclosure is something that is weighing heavily on the hearts and minds of a large number of American homeowners. Many people who have been seeking out foreclosure help have been told that their only option is to attempt a short sale of their home. Other people have attempted to get a loan modification that would make their monthly mortgage payments more manageable, only to have their applications rejected by banks that do not have any real incentive to help them avoid foreclosure. Another group of people have tried a different way in an attempt to avoid losing their home to foreclosure. This way is called deed lieu of foreclosure.
A deed lieu of foreclosure is where the deed to your property is given over to the bank in order to avoid foreclosure proceedings. The appeal of this process is that the borrower is able to avoid the public stigma that accompanies a foreclosure auction. It also does less damage to the credit score of the borrower and can give more favorable terms than what the borrower might receive in a formal foreclosure proceeding.
Foreclosure, short sale, or deed lieu do not have to be your only options to avoid foreclosure. Solutions in the form of securitization audits and forensic loan audits, as well as working with a qualified loan modification attorney can help prevent the foreclosure of your home as well as help you get a loan modification that would adjust the terms of your mortgage to a more reasonable and affordable amount.
Many mortgages have violations at the state and federal levels, and may have been improperly securitized which means that these lenders cannot legally foreclose on your home. If these violations are discovered as part of a forensic loan or securitization audit, this could give you the evidence you need to take legal action against your lender and keep you from handing the deed to your property over to the bank with a deed lieu.
A forensic loan audit will examine your loan documents for violations in TILA and RESPA on the part of your lender, and can provide the leverage you need to negotiate favorable terms on a loan modification. A securitization audit is there to determine if your home loan has been securitized in a correct and legal manner. If it has not been done correctly, the same bank that is trying to foreclose on your loan may have no legal right to do so. These loan audits can be very important pieces of evidence when mounting a legal defense to stop foreclosure.
This is why if you need foreclosure help, you should not hesitate to
contact Tila Solutions to give you the foreclosure help you need. For
over a decade, Tila Solutions has been looking out for the homeowner
with their forensic loan audits and securitization audits. If you need
help stopping foreclosure, a Tila Solutions Consultant is available by
telephone at (702) 508-0335. Or you can visit the Tila Solutions
website at deed lieu