What is a Deed in Lieu of Foreclosure?

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Some lenders will allow property owners to surrender title and possession of the property voluntarily. The lender gets the property to re-sell without going through the expense of the foreclosure process. The homeowner can often negotiate the timeline for vacating the property, and avoid having a foreclosure impact his or her credit report.

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Patrick Neale & Associates serves clients throughout Southwest Florida and has office locations in Naples and Marco Island.

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