Deed in Lieu of Foreclosure

Deed in lieu of foreclosure is a tool used when a borrower avoids foreclosure by deeding the collateral property back to the lender. in exchange the borrower is …

Deed in lieu of foreclosure is a tool used when a borrower avoids foreclosure by deeding the collateral property back to the lender. in exchange the borrower is released from the mortgage. In order to attempt this transaction both parties must enter into the agreement voluntarily. A deed in lieu helps to avoid foreclosure proceedings and can immediately release borrowers from financial burdens associated with the loan.

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