I've already moved out
Deed in lieu of foreclosure
You may have already moved out and thought that there was no way to stop foreclosure.
There are serious tax implications of foreclosure because a 1099 will be issued on the
banks loss as income to you. This hurts the home owner further by potentally reporting
thousands of dollars as income.
Under many conditions lenders will accept the property back from the borrower as full payment in order to save the time and expense of going through the foreclosure process.
Our job is to convince the lender it's in their best interest to accept the property as payment in full and stop foreclosure.
This is not a simple plan as we must provide the lender with a complex detailed analysis of current value of the property --and future value. Then we must prove that the borrower cannot afford to make payment or sell the home any time soon or at all.
Contact Us today and find out how we can
keep you from having to pay taxes on a home you no longer own.