FAQ's Foreclosure:

 

Can I Just Deed My Property To Someone And Avoid Foreclosure?

 

Deeding your property to a third party does not eliminate your obligations related to the loan. Unless the mortgage is paid off when you deed the property, you will almost certainly remain as the party primarily responsible for the repayment of the loan. If the lender eventually forecloses, it will be on your credit record.

If you deed your property to a third party you also give up control of the property. It is nearly always a bad idea to simply deed your property to a third party.

Do not deed your property to someone without paying off the loan unless you have consulted with an attorney.

 

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