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Orlando Attorney Melody Pullen Bio

Attorney Pullen currently defends numerous foreclosure cases for homeowners throughout Central Florida.
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DEED IN LIEU vs SHORT SALE

Rather than simply allowing a foreclosure to take away your home, you also have an option of a short sale or deed in lieu.

Short Sales

A short sale allows you to sell your home through a realtor for less than what you owe on the property, but simultaneously an attorney can ensure that you are no longer liable for the deficiency. Ask your attorney and/or tax professional about any tax consequences from this type of transaction.

Deed in Lieu

A deed in lieu is a return of the property to the bank. A mortgagor can voluntarily deed collateral property, in exchange for a release from all obligations under the mortgage, back to the lender. This is something an attorney can discuss with your bank to ensure that you are no longer liable for the mortgage and home.

These potential options are available during a foreclosure, and may be appealing to the bank because it is less costly than a foreclosure action. Filing a chapter 7 bankruptcy or a chapter 13 bankruptcy may be another potential option available. See those sections for further details on those options.

Consultation or general questions:

Call (407)966-3456 or fill out our contact form to set up a consultation with an experienced attorney for a Florida Deed in Lieu of foreclosure or short sale or to ask general questions.