If you are behind on your house payments and facing foreclosure, one option you have is a deed in lieu of foreclosure. This legal option allows you to surrender the deed for the home to the lender, while avoiding foreclosure.
If you are considering a deed in lieu of foreclosure or other debt relief options, the attorneys at the Arizona Law Group of Trezza & Associates, LLC, can help you explore likely outcomes. We have extensive experience handling bankruptcy cases for clients from Phoenix, Tucson and throughout Arizona.
To discuss your specific circumstances with Arizona bankruptcy attorney Stephen Trezza, contact us to schedule a consultation.
Is a Deed in Lieu of Foreclosure Right for You?
In Arizona, in most cases, a deed in lieu of foreclosure is not the best option for people facing foreclosure. Because of Arizona's anti-deficiency statute, going through with the trustee sale will protect you from being sued for a deficiency (the difference between what you owe on the house and what the bank makes back on it).
There are some circumstances in which it may be a better option to opt for the deed in lieu of foreclosure, including situations in which you owe homeowners association fees. These are complex legal matters and every case is different. It is important to consult with an experienced Arizona bankruptcy attorney before making any decision.
Contact Us to Learn More About Avoiding Foreclosure in Arizona
If you are facing foreclosure in Arizona, our Phoenix and Tucson bankruptcy lawyers are here to help. Contact us to discuss your options.
