Taxes & Deed in Lieu of Foreclosure?

Answer Handing over your deed to the bank could trade a bad mortgage for another problem -- taxes. Whether or not you have to pay taxes on a deed in lieu of foreclosure depends on a mixture, of the home's... Read More »

Top Q&A For: Taxes & Deed in Lieu of Foreclosure

Do you have to pay taxes on real estate for a deed in lieu of foreclosure?

If your lender agrees to a deed in lieu of foreclosure, you will be responsible for paying taxes on the forgiven portion of the debt. This is because the Internal Revenue Service counts the portion... Read More »

How to Negotiate a Deed in Lieu of Foreclosure?

A deed in lieu of foreclosure is a foreclosure prevention process that can be used when you are upside down on your mortgage and cannot afford to keep your home. You simply sign a deed transferring... Read More »

What Does Taking Deed-in-Lieu of Foreclosure Mean?

When a homeowner is facing foreclosure, one of the alternatives that he may pursue is a deed-in-lieu of foreclosure. With a deed-in-lieu of foreclosure, the borrower voluntarily gives up the title ... Read More »

Deed in Lieu Process?

Experiencing a financial hardship and not being able to pay your mortgage doesn't leave you with many options. Whether you've lost your job or have mounting bills, sometimes your monthly income doe... Read More »