Zephyrhills is a quaint town north of the Tampa Bay area with a beautiful historic district and a famous bottled water company. However, for as nice a place as Zephyrhills is, it wasn’t immune to the difficult financial times of recent years. For many Zephyrhills homeowners, keeping their homes may be difficult.
Facing freclosure is a daunting proposition for many Zephyrhills homeowners, but you do have options. A deed in lieu allows homeowners facing foreclosure to transfer the property voluntarily to the lender in exchange for a release of the mortgage. In many cases, the deficiency (the amount of the loan that is not covered by the sale proceeds) will be forgiven by the lender. Stephen K. Hachey, a Zephyrhills deed in lieu lawyer, can help you through this process and avoid foreclosure.
Know Your Rights Before You ActAs with any situation, there are advantages and disadvantages to deed in-lieu. Some of the benefits to the process include being discharged from personal obligation of the loan and averting the process of a foreclosure. Also, your credit will not be as adversely affected as it is after a foreclosure and you will not be left with the duty of trying to sell your home.
Of course, with advantages, come the disadvantages including that homeowners with home equity loans, second mortgages, or tax liens may not qualify for deed in lieu. A lot of lenders prefer payment over real estate, meaning your lender may not agree to a deed in lieu. Unfavorable tax consequences may also impact you if you choose a deed in lieu. Speak with an experienced Zephyrhills deed in lieu attorney to discover whether the pros outweigh the cons.
How can a deed in lieu lawyer help?Once your needs and goals are understood, the Law Offices of Stephen K. Hachey will address whether or not deed in lieu is a good option for you to pursue. If you’re ineligible to refinance or modify your mortgage, facing a long-term hardship, behind on your mortgage payments or will fall behind in the near future, owe more on your home than it’s worth, don’t want to sell your home or haven’t been able to sell your home or can no longer afford your home, you should consider working with a Zephyrhills deed in lieu attorney. Stephen K. Hachey is a deed in lieu attorney who can help you to avoid foreclosure.
What are the benefits of deed in lieu?
- You are immediately released from the personal indebtedness associated with the loan.
- You avoid the public notoriety of a foreclosure proceeding and may receive more generous terms than you would in a formal foreclosure.
- Your credit will be affected less than in a foreclosure.
- You will not be responsible for trying to sell your house.
What are the disadvantages of deed in lieu?
- You may not qualify if you have a second mortgage, home equity loans or tax liens
- Many lenders want cash, not real estate
- There may be negative tax consequences, dependent upon the amount of forgiven debt
Call 813-549-0096 TODAY for a FREE, No-Obligation Consultation
Stephen K. Hachey, an experienced deed in leiu attorney, can not only help you determine your options, but he can advise you on the best course of action based on your unique situation. And with offices spread out across Tampa Bay, he’s available and accessible to begin helping you today. The Law Offices of Stephen K Hachey proudly serves Tampa, St Petersburg, Clearwater, Wesley Chapel, Brandon, Riverview, South Tampa and everywhere in between.
Think a deed in lieu might be a good option for you? Call 813-549-0096 TODAY for a FREE, No-Obligation Consultation
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Phone & Fax
Phone: (813) 549-0096
Fax: (813) 377-4968
The Law Offices of Stephen K. Hachey, P.A.
15619 Premiere Drive Ste 104A
Tampa, FL 33624
(By Appointment Only)