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Foreclosure Defense Attorney in Wichita

What is a Forced Deed in Lieu of Foreclosure?

Whenever a person finds that they are in a position in which they have defaulted on their loan or mortgage and are facing foreclosure, it can often result in feeling panicked and stressed about their whole financial situation. Facing a foreclosure can be a hard to bear situation, and make you feel like you don't have any options to recover from the inevitable dark mark on your credit history once the foreclosure has been completed. On top of all of this, a forced eviction by a sheriff at the time of foreclosure can be a humiliating and embarrassing situation for everyone involved. One option that is often considered in these kinds of circumstances is to simply hand over the rights of the property to the lender in order to avoid the foreclosure process. This process, known as a deed in lieu of foreclosure, requires the consent and good faith of both the lender and the borrower in order to complete the process.

There are certain circumstances that might either warrant or force the borrower involved to opt for what is known as a forced deed in lieu of foreclosure. This occurs when the person who has defaulted on their loan goes through the legal process required to file for a deed in lieu of foreclosure without consulting with the lender, in the hopes that the lender will agree to it eventually, when they are presented with the terms of the deed in lieu. This is almost always an unsuccessful tactic because the lender can simply refuse the deed in lieu and reject the offer entirely. It is almost always a better solution to contact a Kansas bankruptcy attorney and find out what options are available to you to help avoid your foreclosure. In some cases it may be much more beneficial to consult with the lender to work out the deed in lieu with the consent of both parties.

Kansas Lawyer for Foreclosure Defense

No matter the situation you are in, if you are facing foreclosure it is vital that you contact an experienced attorney to assist you with your case. There are many options available when your home may be foreclosed upon, including options that may be allow you to keep your home and relieve your debt. There are even bankruptcy options that will protect your home and end the foreclosure process if you are eligible. At the Kansas Bankruptcy Firm, our attorney has the experience and understanding of real estate and financial laws to assist you with your case in whatever way is possible.

Contact a Kansas Foreclosure Defense Attorney at our offices today if you need assistance with your foreclosure case!