Top
Deed in Lieu



Philadelphia Deed in Lieu Attorneys

If you are facing foreclosure, you may be able to avoid losing your home by transferring it to your lender. This process is called a "deed in lieu of foreclosure" or a "deed for sale."

How Does a Deed in Lieu Work?

A deed in lieu of foreclosure is a voluntary process that involves the transfer of your home to your lender. The lender will then sell the home and pay off your mortgage balance. If you are facing foreclosure, you should consult with an experienced attorney to determine whether a deed in lieu of foreclosure is in your best interest.

A Deed in Lieu of Foreclosure offers homeowners in Philadelphia a voluntary solution to avoid the foreclosure process. It begins when a homeowner experiencing financial distress initiates discussions with their lender. The lender assesses the homeowner's financial standing and property value to determine the feasibility of a Deed in Lieu agreement.

If a mutual consensus is reached, negotiations come next, often involving the possibility of the lender forgiving a portion or the entirety of the outstanding mortgage debt. Next, the homeowner formally transfers property ownership to the lender, relinquishing all associated rights and responsibilities. In exchange, the lender commonly refrains from pursuing foreclosure. Nevertheless, it's essential to note that this option may entail credit and tax ramifications, so it is essential to see professional guidance before proceeding.

Schedule a free consultation with Law Office of Michael P. Forbes, PC by calling (610) 991-3321 or contacting us online. We serve clients in Wayne, PA, and throughout the surrounding areas.

Timeline for a Deed in Lieu

The timeline for a Deed in Lieu varies but generally involves negotiations, property evaluation, agreement finalization, and property transfer. The process typically spans several weeks to a few months, contingent on factors like lender responsiveness, property appraisals, and negotiation complexity. It's essential to consult with experienced professionals for accurate timelines and guidance tailored to your specific situation.

What Should I Consider When Deciding?

A deed in lieu of foreclosure is a voluntary process. You can choose to foreclose on your home if you do not want to transfer it to your lender.

When contemplating the choice of a deed in lieu for foreclosure defense, it's crucial to weigh several factors. Consider your financial situation, the property's value, and your long-term goals. Assess the impact on your credit and potential tax implications. Consult with professional Philadelphia deed in lieu lawyers to fully comprehend the legal and financial consequences and explore alternative options that may better align with your circumstances.


If you are interested in a deed in lieu of foreclosure, contact The Law Office of Michael P. Forbes, PC online or call (610) 991-3321 to request a free consultation.

OVEr 25 years of EXPERIENCE Contact Us Today!

Let’s Make Bankruptcy Your Last Resort!

  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.
  • By submitting, you agree to be contacted about your request & other information using automated technology. Message frequency varies. Msg & data rates may apply. Text STOP to cancel. Acceptable Use Policy
Our Valued Clients Share Their Thoughts
  • "They are very straight forward and told us what to expect each step of the way. They are tireless advocates for their clients and profession."
    RD & AD
  • He managed to focus on the best outcomes for my family and our business

    TH
  • "Fought for Me Like No Other. He's One of the Good Ones."
    J.W.
  • I trust Michael and as a result I highly recommend him.

    Heather C.
  • "Someone You Definitely Want in Your Corner"
    J.C.
  • "Credit Report Inaccuracy Threatened My Promotion"
    R.T.
Let us help you avoid bankruptcy Our Priority is Your Defense
  • Proactive

    My goal is to reach as many people as possible to let them know that they do have the option to combat collection agency bullies.

  • Committed
    My firm is proud to deliver high-quality legal representation and compassionate counsel during this difficult time.
  • Knowledgeable

    Over 25 years of experience and the qualifications to fight for you and your rights.

  • Power

    We fight back and make the debt collector pay YOU money for their abusive, harassing behavior.