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700 N. Market Wichita, KS 67214
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Kansas Deed In Lieu of Foreclosure Attorney

About Deed In Lieu of Foreclosure

Many homeowners find themselves in a situation where it seems impossible to pay the monthly obligations and meet the mortgage payment.  With the value of a home depreciated from the time the home loan was made, a straight sale is not always possible.  There are several alternatives to suffering through a foreclosure, one of which is the "Deed-in-Lieu".  If you find yourself facing a possible foreclosure don't wait to take action.  Get the help of a well respected and qualified Kansas foreclosure defense attorney who can get the attention of your lender and establish effective communication based on an excellent reputation within the business community.  

Deed In Lieu of Foreclosure Lawyer in Kansas

In a "Deed-in-Lieu" the homeowner gives the property to the lender in exchange for a cancellation of the mortgage. This is a negotiated agreement best accomplished through a Deed in Lieu of foreclosure lawyer.  There can be pitfalls in such an arrangement which we will assist the home owner to avoid.  Under certain circumstances a mortgage holder may consider a Deed-in-Lieu, including;

  • There are no liens or claims against the property other than the first mortgage
  • The house has been on the market for at least 90 days listed at fair market value
  • The homeowner has a long term financial hardship which has not resolved
  • Other options are not possible

If your lender agrees to a Deed-in-Lieu your lender will release you from the obligation to repay your mortgage in exchange you will deed the property over to the lender.  The lender will expect the property to be neat and clean when it takes possession.  After the lender has prepared the property for sale and sold it, you may be responsible for any deficiency between the sale amount and the total of your mortgage.  An experienced Deed-in-Lieu of foreclosure attorney works with the lender to include a waiver of deficiency during the negotiation of this agreement.  This is a critical point, as the best resolution will not include owing any lender anything when the process is complete.  Where other options such as a refinance, reinstatement plan, a repayment plan, or bankruptcy is not a good fit to a client's unique situation, Rick Hodge has a long record of negotiating and bringing a Deed-in-Lieu of foreclosure arrangement to a successful conclusion.   Call our firm immediately for a consultation regarding your circumstances.

Contact a Kansas Deed In Lieu of Foreclosure Attorney at the firm to discuss which solution will best fit your circumstances and advise you on how we can help.

300 West Douglas  Suite 145  Wichita, KS 67202

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700 N Market, Wichita, KS 67214
Rick Hodge, Attorney at Law - Wichita Foreclosure Attorney
Located at 700 N. Market Wichita, KS 67214. View Map
Phone: (800) 836-3617