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By: Jane Parker

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Monday, 30-Jan-2012 10:11 Email | Share | | Bookmark
A Deed Lieu Is Not The Best Way To Stop Foreclosure

For many people that are facing foreclosure, the stress that comes with attempting to be able to remain in their homes can be overwhelming. A lot of people in need of foreclosure help are told by their lenders that the only options they have are to attempt a short sale of their home, or try to get a loan modification. Many people who pursue loan modifications are told that they either make too much or too little to qualify for their loan mods, even though they are struggling or falling behind on their payments. This is a tactic the lenders use to wear people down to the point where they simply want it to be over with, and that leads people to try a different way to avoid losing their home to foreclosure known as a deed lieu of foreclosure.

A deed lieu of foreclosure is when you hand the deed to your property and any claims you might have on it over to the bank in order to avoid having to go through with foreclosure proceedings. You are still losing your home, essentially, but instead of having it taken from you, you are giving it up in order to appease lenders. The appeal of this process is that the borrower is able to avoid the public stigma that accompanies a foreclosure auction. It also does less damage to the credit score of the borrower and can give more favorable terms than what the borrower might receive in a formal foreclosure proceeding.

You do have other options if you wish to avoid foreclosure and still be able to keep your home. These options come in the form of securitization and forensic loan audits. By utilizing the evidence these audits provide, and working with a qualified loan modification attorney, you can prevent foreclosure by adjusting your mortgage to terms that are more affordable.

Aforensic loan audit will examine your loan documents for violations in TILA and RESPA on the part of your lender, and can provide the leverage you need to negotiate favorable terms on a loan modification. A securitization audit is there to determine if your home loan has been securitized in a correct and legal manner. If it has not been done correctly, the same bank that is trying to foreclose on your loan may have no legal right to do so. These loan audits can be very important pieces of evidence when mounting a legal defense to stop foreclosure.

This is why if you need foreclosure help, you should not hesitate to contactTila Solutions to give you the foreclosure help you need. For over a decade, Tila Solutions has been looking out for the homeowner with their forensic loan audits and securitization audits. If you need help stopping foreclosure, a Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website atdeed lieu


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