In that case your mortgage servicer the company that handles collecting the money for your lender can take your house to cover the money owed. This process is called foreclosure. Our VA loan technicians can help you avoid foreclosure and keep your house.
Really !? That'd be great, I don't want to end up homeless. How can I avoid the foreclosure?
A deed in lieu of foreclosure lets you avoid the foreclosure process by signing over the deed to the home to your servicer. The home will then belong to the servicer.
What if I'm a Veteran? I mean, I served this country, now you can do something for me and help me with this foreclosure.