Add 'How to use a Deed in Lieu of Foreclosure to Sign over Your Home'

3 months ago · 8bb96fc63d
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+<br>A deed in lieu of foreclosure (DIL) is an option for [preventing foreclosure](https://nyumbanirealtygroup.com) however still break free from unaffordable home payments. You can willingly move ownership to your lender-your deed-instead of or in lieu of waiting on them to foreclose on your home.<br>
+<br>You would essentially sign the deed over to them, and your lending institution releases you from the commitment to make any more payments toward your mortgage loan.<br>
+<br>Key Takeaways<br>
+<br>- While a DIL will still harm your credit, it isn't rather as destructive as a foreclosure.
+<br>- A DIL won't always negate your loan responsibilities