Welcome to Delmarva Home Relief's Blog

We publish blog articles that gives the nation and the world helpful resources, tips, how to's, trends, and best practices related to housing, foreclosure, real estate, short sales, loan modifications, mortgages, formulas, and so much more.

Subscribe to Delmarva Home Relief's Blog Now!

Subscribe to Daily Updates

Delmarva Home Relief's (Privacy Policy)

3 Awesome Deed in Lieu of Foreclosure Programs We Love!

Michael Nolen, Founder, CEO November 23, 2015 at 4:07 PM Find me on: LinkedIn

If you can’t find a resolution to modify your mortgage with your lender or you’re unable to sell your home as a short sale, a deed in lieu of foreclosure could be your next best bet to avoiding a foreclosure sale. We’ve found that many homeowners don’t even know about this program or the benefits.

In this post, I’ll share 3 programs that we love and the benefits behind them.

The Stages of Mortgage Assistance Options

Typically, a lender will want you to start with a loan modification. In fact, your lender may require a modification be reviewed before you can apply for a short sale or deed in lieu of foreclosure.

A short sale process and deed in lieu process are similar. Both programs are generally considered after a modification when you’re unable to find an affordable modified payment or you’re not eligible for a modification with your lender.

Types of Deed in Lieu of Foreclosure Programs “DIL”


Every lender has different programs available, so you’ll need to find out what options are available.

There are 3 common DIL programs:

  • The Traditional DIL Program
  • The Short Term Lease with No Rent DIL Program
  • The 12-Month Lease DIL Program

Each program has it’s own value and purposes depending on you’re goals and lender qualifications.

#1 The Traditional DIL Program

The traditional DIL is the most common DIL program. It may be called something different from lender to lender. This program allows you to transfer ownership of your home directly to your lender. 

If approved, your lender may offer you some great incentives like:

In a DIL agreement, your lender will require you leave your home. It’s common for a lender to allow you to stay for 30 days after you’ve completed their process. You may need to let your lender know when you plan on leaving before they’ll finalize an agreement. You could have a deadline to notify them or they could deny it.

#2 The Short Term Lease with No Rent Program

This is an awesome program. Imagine getting to leave in your home for up to 90 days after you’ve been approved without paying rent or a mortgage payment. You’ll have the comfort of no longer being active in foreclosure and not have a monthly house payment. Your lender may require that you maintain the property and pay the utilities.

If you have a tenant in a rental property, your tenants could be the option of benefit of living after your DIL is approved.

If you’re living in the property, you could get relocation assistance after your lease period. You’ll need to apply for relocation assistance. There could be an application for your tenant if they would like to be considered for relocation assistance.

Your tenant could get relocation assistance as well. You’ll need to apply for it, but it’s possible.

#3 The 12-Month Lease Back Program

Your lender could participate in a DIL program that allows you to lease the property for 1 year after you’re approved for a DIL. You may be required to pay fair market rent. If you have a rental property with a tenant, you’re tenant may be able to apply with your lender.

If you thinking of apply for a DIL program, contact your lender, an experienced professional, or attorney that understands the process. Many homeowners have had difficulties getting this option finalized and you’ll want to be prepared. There’s affordable deed in lieu of foreclosure help available.

New Call-to-action


This article was write for guidance purposes only. Contact your lender or loan servicer for information on your available options.

Important Notice

Delmarva Home Relief is not associated with the governement and our service has not been approved by the government or your lender. You may stop doing business with us at anytime.


Tagged Loss Mitigation, Deed in Lieu of Foreclosure, Mortgage Assistance Relief Services, Foreclosure, Foreclosure Alternatives

Delmarva Home Relief's

Latest Deed in Lieu Blog Articles



Subscribe to your favorite blog articles

Get first access to your favoriate topics when you subscribe to any of Delmarva Home Relief's blog articles.

Subscribe to Delmarva Home Relief's Blog Now!



Advertising Disclosure*

Advertisements help us offset costs for keeping our blog content free for our readers. When you click on an advertisement that you like, we'll make a little bit of money per click - and that's pretty cool! Check our some of the ads, you may find a product you like.