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What Is A Deed In Lieu of Foreclosure?

Updated: Apr 20

Have you been served with a Summons and Foreclosure Complaint by your lender? You have several options, depending on whether you would like to keep your home or walk away. A deed in lieu of foreclosure is one of the options available to you if you decide to hand over the keys to your property to the bank. You should consult with an experienced foreclosure defense attorney to discuss your legal rights and all of your options before making a decision. One of these options may be to challenge the bank’s right to foreclosure based on various legal strategies and affirmative defenses. An experienced foreclosure defense attorney will discuss whether other options such as a mortgage modification or a short sale may be a better option depending on your specific needs.


One of the benefits of a “deed in lieu of foreclosure” is that you may avoid the time and expense associated with fighting a foreclosure action. A deed in lieu of foreclosure transfers title of your home to the bank, theoretically shortening the time of the foreclosure process. Although this option may seem practical for you and the bank, when the bank accepts title to your property in this manner, second mortgages, subordinate liens, and all outstanding homeowners/condominium association dues continue with the deeded property becoming a cloud on title and/or the bank’s liability. Whereas, in a traditional foreclosure action or a short sale, subordinate mortgages, liens, and most association dues (subject to certain “statutory safe harbor” amounts and property taxes), are cleared from title. This allows the purchaser of a short sale to own and later sell the property free and clear of all liens and encumbrances. In the event you do not respond to the Foreclosure Complaint within 20 days from the date you were served, the bank can move for a default judgment against you and later sell your property at auction. Accordingly, it is critical to speak with an experienced foreclosure defense attorney, to discuss all of your options.

About the Law Office of Eleni Noble Zarbalas, PA


The Law Office of Eleni Noble Zarbalas was formed in 2009 by Eleni Noble Zarbalas, Esq., who has been practicing law for 16 years. Eleni is a Real Estate Attorney, licensed Realtor and Title Agent. Eleni has represented hundreds of homeowners in foreclosure defense, loan modifications, shorts sales and deed-in-lieu of foreclosure. Whether you are facing foreclosure or buying or selling a commercial or residential real estate, we can give you experienced tailored legal representation.


Throughout the entirety of her career, Mrs. Noble Zarbalas has handled all aspects of residential and commercial real estate transactions including contract drafting, review and examination of title work, curing title defects, extensive interaction with buyers, sellers, real estate agents, mortgage brokers and lenders for the coordination of all closing matters. As both a transactional and litigation attorney, Eleni leverages her knowledge of the banking industry and drafts agreements in anticipation of litigation, mitigating risk while achieving the most favorable business terms possible for her clients.

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2385 NW Executive Center Drive
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Boca Raton, Florida 33431

701 Brickell Avenue
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Miami, FL 33131

Tel: (561) 981-2685

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