If you’ve fallen behind on your mortgage and you don’t see any way of catching up, a deed in lieu of foreclosure might be your best option. Here's what you should know.

Understand how a deed-in-lieu of foreclosure works, its potential benefits and drawbacks, and if can be a viable option for you. Business Insider Subscribe Newsletters ...

Dear Speaking of Credit, I'm going through a deed in lieu, which is soon to go through. My credit score is approximately 605, give or take. I have bad marks on my credit report due to no payments ...

A deed in lieu can do less damage to your credit than a foreclosure but means you need to give up your home sooner. Lenders aren’t required to accept a deed in lieu, so you may need to explore ...

Most often, a deed in lieu of foreclosure is preferred to foreclosure itself. This is because a deed in lieu allows you to avoid the foreclosure process and may even allow you to remain in the house.

A deed in lieu of foreclosure allows you to avoid foreclosure by giving your lender the deed to your house. A deed in lieu can do less damage to your credit than a foreclosure but means you need ...

There are two main options, according to experts in the space: a deed-in-lieu of foreclosure or a friendly/uncontested foreclosure. The first is exactly what it sounds like.

5. Deed-in-lieu of foreclosure. A deed-in-lieu of foreclosure involves turning over your home to a lender to avoid foreclosure proceedings. In some instances, going this route could help you avoid ...

If that happens, they may consider signing a deed in lieu of foreclosure to stop the foreclosure proceedings. Before doing so, it’s important to know the pros and cons of taking this step to ...