Meaning Deed-in-Lieu of Foreclosure
What does Deed-in-Lieu of Foreclosure mean? Here you find 3 meanings of the word Deed-in-Lieu of Foreclosure. You can also add a definition of Deed-in-Lieu of Foreclosure yourself
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Deed-in-Lieu of ForeclosureA voluntary transfer of marketable title to a property to avoid foreclosure.
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Deed-in-Lieu of ForeclosureThe borrower, most likely you, gives the property rights of the home to the lender. This is another option to avoiding foreclosure and has a less negative effect on your credit.
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Deed-in-Lieu of ForeclosureAn alternative to straightforward foreclosure. The borrower basically returns the house to the bank. A deed-in-lieu will negatively affect your credit score.
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