Wed, 26 Jan 2011 09:58:53 -0800WeeblyFri, 08 Jan 2010 11:19:03 -0800http://www.texasrevestor.com/2/post/2010/01/are-there-disadvantages-to-a-deed-in-lieu.htmlThere are several downfalls to a deed in lieu. As with short sales, you probably cannot get a deed in lieu if you have second or third mortgages, home equity loans, or tax liens against your property.In addition, getting a lender to accept a deed in lieu of foreclosure is difficult these days. Many lenders want cash, not real estate -- especially if they own hundreds of other foreclosed properties. On the other hand, the bank might think it better to accept a deed in lieu rather than incur foreclosure expenses.]]>Fri, 08 Jan 2010 11:13:01 -0800http://www.texasrevestor.com/2/post/2010/01/are-there-benefits-to-a-deed-in-lieu.htmlMany believe that a deed in lieu of foreclosure looks better on your credit report than does a foreclosure or bankruptcy. In addition, unlike in the short sale situation, you do not necessarily have to take responsibility for selling your house (you may end up simply handing over title and then letting the lender sell the house).]]>Mon, 21 Dec 2009 12:21:58 -0800http://www.texasrevestor.com/2/post/2009/12/first-post.htmlWith a deed in lieu of foreclosure, you give your home to the lender (the "deed") in exchange for the lender canceling the loan. The lender promises not to initiate foreclosure proceedings, and to terminate any existing foreclosure proceedings.]]>