Providing Competent Legal Guidance

Deed in Lieu of Foreclosure in Nassau & Suffolk Counties

What Is a Deed in Lieu of Foreclosure?

If you are facing a foreclosure, there are alternatives available to you. A deed in lieu of foreclosure is one of these options. It involves writing a deed that gives rights to the property back to the lender so that the property owner is no longer responsible. It can help you avoid the necessity of selling the property in a short sale or risking a deficiency judgment and negative credit report from foreclosure. A Nassau County real estate lawyer can advise you as to whether this is your best option and if so help you to negotiate the matter with the lender on the most favorable terms.

Call James J. Quail & Associates, P.C. at 516.246.2449.

How a Nassau County Attorney can Help

The legal team at James J. Quail & Associates, P.C. is experienced at handling deeds in lieu of foreclosure for clients throughout Nassau and Suffolk Counties. Deeds save the lender the expense of going through the foreclosure process and put the title firmly in lender’s hands. The disadvantage to the lender is that it makes the lender a property manager with the necessity of boarding up the home. In this state it cannot be sold to anyone but an investor who will buy only at a heavily discounted price. As a result, the lender often resists deeds in lieu of foreclosure or expects extra compensation from the borrower.

Our Nassau County real estate law attorney is skilled in working with lenders and homeowners. We have helped countless people throughout Long Island through the deed in lieu of foreclosure, and we can help you, too.

How We Help Homeowners

We fully investigate the alternatives that are available to you, including:

  • Utilizing foreclosure defenses to fight the foreclosure
  • Seeking a loan modification to allow the client to stay in the home on more advantageous terms.

We also advise the client on the possibilities of a short sale where the client finds a buyer to home although at a lower price than the amount of the loan. Lenders are more likely to accept short sales than a deed in lieu of foreclosure because they gain immediate income and avoid the expenses of property management and re-sale.

If you are ready to find out more about this foreclosure alternative, contact our firm today. We offer complimentary 30-minute consultations to help you.

What Our Clients Are Saying About Us

  • “James is an excellent attorney. He is creative in his approach and his communication is all you could ever ask for. Highly recommend.”

    - Keith M.
  • “Communicates with clients. Listens and explains details in-depth. Wide range of knowledge. Always on time. Gives his clients 110% commitment.”

    - Lawrence G.
  • “Jim is an exceptional attorney! Detail oriented, excellent communication all around. I will use Jim repeatedly and refer him to everyone with confidence.”

    - Shah T.
  • “I was referred to James Quail by a friend and I can say it was the best referral ever. James and his staff are professional, responsive and most of all supportive.”

    - Former Client
  • “An exceptional attorney! Detail oriented, excellent communication all around. I will use him repeatedly and refer him to everyone with confidence.”

    - S.T.

Contact Us Today For A Consultation

No matter what your case involves, our firm understands you have already been through a great deal—physically, emotionally, and financially.

By taking a moment to contact our office, you can learn more about your legal rights and options.

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