What is a Deed-in-Lieu and Why is it Better Than a Foreclosure?
A deed-in-lieu isn't necessarily better than a foreclosure; it's just about what you need in your situation. A foreclosure takes a good amount of time because it's a court process. A deed-in-lieu is a much faster process because you're giving a deed in lieu of going through a foreclosure. If the lender is willing to accept it, you can issue a quick claim deed to the lender. This avoids the necessity of having to go through the foreclosure process. Watch the video for more information.