Legal Question in Real Estate Law in Illinois

What are the advantages and disadvantages of obtaining a deed in lieu versus letting the property go into foreclosure?

Asked on 7/22/11, 12:45 pm

1 Answer from Attorneys

Joseph Michelotti Michelotti & Associates, Ltd.

Deed in lieu speeds up the foreclosure process. Good if you don't mind leaving the house right away and/or you need to rebuild your credit very quickly

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Answered on 7/22/11, 2:45 pm

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