A Deed in Lieu of Foreclosure might be the Right Way Out

Sept. 18, 2009 - PRLog -- Chicago (InsuranceAgents.com) – All across America people are losing their jobs and their means to pay for their mortgages. Homes are being lost and the number of foreclosures is rising. Besides losing their homes, people have to go through the legal process of foreclosure that costs more time, money and patience that many people are already short on.

http://www.insuranceagents.com/deed-lieu-foreclosure.html

In a recent article posted by InsuranceAgents.com, “Taking the Deed in Lieu of Foreclosure Approach,” they discuss a new and easier way for homeowners to be rid of their mortgages because they cant afford them and possible steps that could help them keep their homes. “Fortunately for homeowners unable to pay their mortgage, a deed in lieu of foreclosure can prevent a messy and expensive foreclosure proceeding from occurring. Borrowers like the deed in lieu approach because they can get out of paying their mortgage with no strings attached. All they have to do is simply hand the keys of the home over to the lender and walk away,” states the article. Lenders immediately take possession of the home and can put it on the market without having to wait for legal documents and court dates. The also encourage homeowners who are not ready to just give up on their home to compromise payments for their home with their lenders because they understand the importance of keeping a home and will work with you as best they can. Communicating with your lender is the best way to smooth out foreclosing issues. If there is a way for you to keep your home, they will help you find it.

# # #

InsuranceAgents.com provides consumers with access to insurance information including articles, quotes, and comparisons.

http://www.insuranceagents.com/homeowners-insurance/