Why A Fort Collins Short Sale Is A Better Alternative Than A Deed-In-Lieu Of Foreclosure

Fort Collins CO – If you are facing foreclosure, then I'm sure you've heard of a Deed In Lieu of foreclosure. Some people say it is a great way to avoid foreclosure. Actually, all it does is accelerate the foreclosure process. Click here to discover how other sellers successfully did a short sale and avoided foreclosure.  

Here are the most common myths about a Deed In Lieu. Common Myth #1: If I do a Deed In Lieu in Gainesville, then I will not owe the lender any more money. A Deed In Lieu is similar to a No Contest Plea. The judge stops analyzing the foreclosure case and simply schedules the foreclosure auction. Unless otherwise stipulated, the lender still has all the deficiency and future collection rights. They may come after you for the loss.  

Common Myth #2. A Deed In Lieu is better for my credit than a foreclosure. I've heard many people say, "A Deed In Lieu is better for your credit because you avoid foreclosure." It's kind of sad to hear them say it. After you sign all the Deed In Lieu paperwork, then your house will still be sold at a foreclosure auction. Any person can actually bid on the house at the auction.  

Common Myth #3: A Deed In Lieu Is easy. This is absolutely not true. The process required a lot of follow up with the lender. Most lenders require you submit all your financial information. 

They want to make sure that you genuinely cannot afford the property. The process often takes between 20 and 40 hours over the course of several months. 

 First, you submit your paperwork. Then, you call your lender to make sure they received your paperwork. Then, you have to wait while they review it. 

 Then, you have to answer any question or provide more paperwork they request. To me this is insane. Why not just live for free until your lender forecloses? 

 A Deed In Lieu of foreclosure offers almost zero benefit to you. So why go thru the aggravation? 

That is why I always recommend a short sale over a Deed In Lieu. Thinking about a short sale? 

I can help you short sale your property and get back on your feet. Send me an e-mail at RobKittle70@msn.com. I will contact you for a free consultation. 

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (970) 690-4920 

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. 

 Thinking about a loan modification? Our Fort Collins loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. 

Thanks for reading this, Rob Kittle. 

Rob is a Real Estate The Kittle Team at Keller Williams Realty. Fort Collins Short Sales Realtor: 

Phone: (970) 690-4920. RobKittle70@msn.com. 

We Specialize, You Benefit!

View My homes for sale at www.RobKittle.com. 

Rob Kittle specializes in loan modification assistance and short sales in Fort Collins Colorado. Fort Collins Loan Modification Help, Fort Collins Short Sales. Fort Collins Short Sale Realtor Fort Collins CO Short Sales. Fort Collins Realtor. 

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Important Notice  

Rob Kittle, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? 

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. 

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. 

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. 

 This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. 

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. 

The views expressed here are Rob's personal views and do not reflect the views of Keller Williams Realty. 

This information on Why A Fort Collins Short Sale Is A Better Alternative Than A Deed-In-Lieu Of Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.