Well hello everyone my name is Matt Fetick with Sold By Short Sale, Philadelphia’s leading short sale specialist, thank you so much for joining me today. My team and I specialize in short sales within the Philadelphia area and I update my blog frequently to help educate homeowners in the community on their options for avoiding foreclosure. If my blog is helpful, or if you would like some more information, feel free to browse my website or give me a call to discuss your options.

For my blog today I wanted to discuss the option of a deed in lieu of foreclosure. If you have ever considered mailing the keys to your home back to your bank because you are unable to make your payments you have considered a deed in lieu. Because your bank does not actually own your home a deed in lieu of foreclosure is necessary in order to give the bank the rights to your home. This requires you the homeowner to sign the home over to your bank instead of waiting to enter in to foreclosure. This may be a good option for some people but it does not settle any unpaid balance that is owed on your mortgage. Even if your bank sells your home at auction you can still be liable for the difference between the selling price and the amount that was owed. In going through the short sale process we can negotiate with your bank in order to have these deficiencies waived to protect you in the future. If you have any questions on the short sale process please visit my website or contact me directly to set up a free consultation. Our team of short sale experts wants to help get you out from under your distressed property and move on with your life. Thank you for time today and I look forward to hearing from you soon.