When negotiating a Deed in Lieu of Foreclosure in Florida be sure to have the lender agree to waive or release you from any deficiency in the difference between the mortgage amount owed and the ultimate market value of the property. This will prevent the lender from suing you in the future for that deficiency. A Deed in Lieu of Foreclosure will provide you no benefit unless you receive a waiver or relase of the deficency.
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Law Office of Ray Garcia, P.A.
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