Deeds In Lieu

Deeds In Lieu

Often a Win-Win

Taking Or Offering A Deed In Lieu of Foreclosure. A Win-Win.

When a debtor can no longer meet the payments under a mortgage and there is a single creditor, such as in a seller carry situation, it is often a win-win to work out a deed-in-lieu of foreclosure. This transfers the property back to the lender/seller without the need of a foreclosure proceeding, which can take time and money. It also provides the borrower a way out of the deal that does not destroy his credit. A third benefit is that the building itself avoids the stigma of being involved in a foreclosure, as such negative history can downwardly impact the purchase price. Often, the procedure makes other things available as well, such as tenant estoppel certificates, prorations, and even some amount of negotiated deficiency judgment. Creativity is the key word and both parties have an incentive to participate. If you need a lawyer for a deed in lieu, call Williams Law, P.C. today. We are lawyers in Denver, Colorado and we want to speak with you.

Call a Denver business lawyer at Williams Law, P.C. today for your free telephone consultation.