Consent Foreclosure

If you are behind on mortgage payments, deed in lieu of foreclosure and consent foreclosure are two options for relieving your debt while giving up title to the property.

A consent foreclosure can be requested after the foreclosure proceedings have already started. While a consent foreclosure prevents the lender from pursuing a deficiency judgment from the borrower, the borrower may still be responsible for paying court costs and attorney fees. Consent foreclosure gives the lender a clear deed to the property, clearing it from any claims by the borrower or third parties.

In a consent foreclosure, the lender typically requires much less paperwork than for a deed in lieu of foreclosure.

Consent foreclosure can be a powerful tool for people who are behind on house payments but do not wish to file for bankruptcy. If you would like to know more about consent foreclosures, our lawyers can help.

Contact us today online or by telephone at 847.680.6250 to speak with our experienced foreclosure attorneys.