Deed in Lieu of Foreclosure Lawyers
We Take Surprises Out of Real Estate Issues
In the current economy we are constantly barraged with foreclosure statistics. Sometimes it seems like homeowners have two options: continue to hold onto a house or let the house go into foreclosure.
When you work with the real estate attorneys of Weeks & Irvine, LLC, you will learn that there are numerous alternatives to foreclosure. Some are familiar, like short sales and bankruptcy. A less familiar yet effective one is a deed in lieu of foreclosure.
What is a Deed in Lieu of Foreclosure?
A deed in lieu of foreclosure allows a borrower to convey his or her interest in a property to the lender. The advantages over foreclosure are that:
- The borrower may be immediately released from most or all of the debt
- The borrower's credit may be affected less
- It is often faster
- There are less parties involved
Despite the advantages of a deed in lieu of foreclosure, challenges and risks still remain. For instance, the bank may wish to hold the borrower responsible for part of the deficiency. Also, the borrower may have to pay taxes on the money saved.
The Charleston deeds in lieu of foreclosure attorneys of Weeks & Irvine, LLC, can handle your entire legal process and advocate for your rights from start to finish. We can negotiate with the bank to decrease or eliminate your debt liability.
There are numerous risks in any foreclosure or alternative to foreclosure. Don't walk away from your home without first consulting with us. For more information, please contact our firm.
Contact Us
For experienced legal help in the Charleston, South Carolina, area, contact Weeks & Irvine, LLC. We charge highly competitive rates and will work around your schedule, including evening and weekend schedules. To contact us, call 843-376-3300 or 866-441-4627.
