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Canton Woman Improves Her Personal Finances With A Deed In Lieu Of Foreclosure

A woman in her 30’s, who worked for the Canton school system recently found herself in a very familiar situation for many Americans. Essentially, she realized that her personal finances were suffering because she had more house than she could realistically afford. All of her funds went to paying for a home she purchased with none left over for other necessities. This created a vicious cycle of mounting monthly debt and she reached out to Luftman, Heck & Associates to go over her available alternatives.

It was important for her to handle this as discreetly as possible because a foreclosure would be public record and understandably, she did not want her employer or the community to know the particulars of her financial circumstances. After consulting with LHA, the client filed for Chapter 7 Bankruptcy, which erased approximately $20,000 in debt and discharged the liability for the house. By going through this process, the housing lender was more inclined to offer a foreclosure alternative. With LHA’s assistance, the client pursued a Deed in Lieu of Foreclosure option, allowing her to transfer the title directly to the bank rather than going through a public foreclosure. Ultimately, Luftman, Heck & Associates successfully managed this woman’s concerns as subtly as possible and provided some much needed financial relief.

Prior results do not guarantee a similar outcome in your case. Individual results may vary based on the facts, injuries, jurisdiction, venue, witnesses, parties, and other factors. The results and client testimonials provided are not necessarily representative of the results obtained by all clients or their satisfaction with the firm’s services.