Stopping Foreclosure: Options
Homeowners have some options for ending the foreclosure process:
- Paying off the debt before the foreclosure sale begins (known as an equity of redemption);
- Refinancing the debt with another lender (poor credit records or the time needed to complete the transaction may make this impossible);
- Selling the property and paying off the debt; or
- Conveying the property back to the lender in exchange for cancelling the debt, known as a deed in lieu of foreclosure (DILF), and it requires the lender’s consent and cooperation.
Click the link below for more information on deeds in lieu of foreclosure
CLICK HERE For more information on Deeds In Lieu of Foreclosure