Are you dealing with a foreclosure on your residential or commercial property? You need to speak to our lawyers right away to see if a deed in lieu of foreclosure is a practical alternative to foreclosure.

Mr. Haynes has actually handled countless foreclosure cases on behalf of our clients, and we make ourselves offered to our clients because we comprehend how much is on the line when you remain in threat of defaulting on your loan and possibly losing your home. Trust us to discover the best possible service to your foreclosure problem.

How Does a Deed in Lieu of Foreclosure Operate In Florida?

A deed in lieu of foreclosure in Florida is when a house owner transfers ownership of their residential or commercial property voluntarily to the lending institution to please the mortgage financial obligation.

Here's how it Florida Deed in Lieu of Foreclosure works:

1. 1. Initiation: The homeowner reveals interest in pursuing a deed in lieu of foreclosure to the loan provider, either directly or with expert support.

Lender assessment: The lender assesses the house owner's monetary scenario, residential or commercial property worth, and other aspects to identify if a deed in lieu of foreclosure is practical, thinking about any other liens or encumbrances on the residential or commercial property.

Negotiation: If the lending institution agrees, negotiations occur to develop terms, dealing with financial obligations, deficiency judgments, and other appropriate elements.

Documentation: Both celebrations prepare and sign legal files, such as a deed in lieu of a foreclosure contract and a service warranty deed moving residential or commercial property ownership. These documents summary rights and obligations.

Residential or commercial property transfer: After completing the paperwork, the property owner transfers the residential or commercial property title to the lender, which is tape-recorded with the proper county office as a public record.

Debt resolution: Depending upon the contract, the loan provider may forgive the staying mortgage debt or retain the right to pursue a shortage judgment for exceptional debt not covered by the residential or commercial property's worth.


It is a good idea to deal with an experienced foreclosure attorney at our Florida law firm to find out more about the laws and policies surrounding a deed in lieu of foreclosure.

Find out if a deed in lieu is best for you. Contact our firm in Longwood by calling (888) 252-8754 to get more information about your Florida foreclosure options today!

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Standing by You During the Deed in Lieu Process

As you may imagine, this process is made complex and having a devoted foreclosure attorney to assist can save you significant time and alleviate you of the stress and anxiety of finishing any part of it incorrectly. If you are in threat of having your home foreclosed upon, you require to reach out to our foreclosure defense lawyer as quickly as you can to see if a deed in lieu is ideal for you.

What is a Deed in Lieu of Foreclosure in Florida?

Typically, a deed in lieu of foreclosure is a transaction that is equally granted by you and your mortgage lending institution. Ideally, after you have adhered to the loan provider's requirements and after they have actually had time to examine and deliberate your scenarios, they will consent to reclaim the piece of property instead of suing you or foreclosing to get the residential or commercial property title.

This will typically meet the financial obligation from the mortgage after the residential or commercial property is turned over, if not you might be responsible for the shortage. Although this might sound simple, the procedure can be considerably more complicated.

For example, the loan provider reserves the right to seek a deficiency judgment against the house owner or customer. Additionally, the loan provider can follow you for debt, unless otherwise stipulated in your Deed in Lieu of Foreclosure agreement.

Find out if a deed in lieu is the right foreclosure alternative for you. Call our Longwood foreclosure lawyers will help you with every step of the Florida home foreclosure process.

Eligibility for Deed in Lieu of Foreclosure

Receiving a deed in lieu of foreclosure agreement is not an easy procedure. Before the lending institution will even consider this choice, you should satisfy particular requirements.

These criteria include the following:

- You need to have suffered the loss of your task, substantial health problem, divorce or another challenge.

- The residential or commercial property in question must be your "homestead", not a deserted or investment residential or commercial property.

- You need to have actively explored and exhausted all other choices and funds available to you.

- The residential or commercial property in concern must have been on the market between 90 and 180 days.

- The residential or commercial property should not have any other liens.

- The residential or commercial property must remain in good condition; you might need to provide inventory and a declaration of condition.


It deserves keeping in mind that a deed in lieu of foreclosure will affect your taxes considerably. It's crucial to ensure that you have insight and expert guidance on both the legal side of things and the tax and financial side of things.

Call Our Deed in Lieu Attorney

Contact our attorneys for a Deed in Lieu of Foreclosure in Florida when you require help browsing foreclosure options. Call (888) 252-8754 today!

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