Foreclosure Defense Attorney in St. Petersburg, FL
Personalized, Zealous Legal Representation When You Need It Most
If you are behind on your mortgage payments and are facing
foreclosure on your home, you may be able to avoid foreclosure by giving up ownership of your home
instead. If your lender agrees, you can turn over the deed to your property
in a deed in lieu of foreclosure action, which allows both you and your
lender to save time and money that might have been spent on litigation.
Our attorneys at Boss Law can help you determine if this option would be
beneficial in your situation. We can meet with you and review your case
to determine the best course of action to protect your interests and your future.
Deed in Lieu of Foreclosure
One option for responding to a foreclosure action is a deed in lieu of
Additional benefits of deed in lieu of foreclosure include:
Protection from having to pay money from a deficiency judgment
Cancellation of your home loan, which frees you from existing home debt
Protection of your credit report, which will not have to feature a credit-damaging
Wondering if a deed in lieu of foreclosure is right for you? Schedule an
initial consultation with Boss Law by calling
How Does a Deed in Lieu of Foreclosure Work?
Homeowners who opt to try for a deed in lieu of foreclosure must sign several
legal documents, including a quit-claim deed and an Agreement in Lieu
of Foreclosure. The quit-claim deed conveys legal ownership of the property
to the lender. The Agreement in Lieu of Foreclosure sets out the terms
and conditions of the arrangement and is signed by both the borrower and
Upon completion of these forms, the lender will mark the borrower’s
note as “paid” and provide the borrower with two important
documents: one which states that the debt has been cancelled, and another
waiving the lender’s right to pursue the unrecoverable debt in a
deficiency judgment. After the agreement is executed, the borrower is
officially released from all obligations under the mortgage.
Keep in mind that there are two conditions under which lenders may be unlikely
to consider a deed in lieu of foreclosure. Those conditions are as follows:
Speak With a St. Petersburg Foreclosure Defense Lawyer for Free
With more than a 20 years of combined experience, our attorneys at Boss
Law know what it takes to help struggling homeowners move forward efficiently
and favorably. A deed in lieu of foreclosure is just one of many options
available to help restore you to a place of financial health. If a deed
in lieu of foreclosure is not the best solution, our firm can also assist
with debt settlement, bankruptcy filings, debt consolidation, loan modifications,
or another course of action.
To get started, contact Boss Law to get in touch with our St. Petersburg
foreclosure defense attorneys.