A means of escaping an overly burdensome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in [..]

Definition The act of giving a property back to the lender without undergoing foreclosure. While the end result is the same - the lender regains possession of the property - the expense and repercussi [..]

A deed given by an owner/borrower to a lender to satisfy a mortgage debt and avoid foreclosure.

Deeding the property over to the lender as an alternative to having the lender foreclose on the property. See Options When Equity in Your Home is Gone and Mortgage Payment Problems: What If Y [..]

A deed in lieu of foreclosure is an exchange of outstanding (and usually past-due) mortgage debt in return for full ownership rights to the mortgaged property. A property owner in distress can sometim [..]

A deed in lieu of foreclosure is a method sometimes used by a lienholder on property to avoid a lengthy and expensive foreclosure process, With a deed in lieu of foreclosure (DIL), a foreclosing lienh [..]

A deed given by an owner/borrower to a tender to prevent the lender from bringing foreclosure proceedings.

A deed given by an owner/borrower to a lender to prevent the lender from bringing foreclosure proceedings.