What is a deed in lieu of foreclosure?
A deed in lieu of foreclosure is a deed that is executed and delivered by the borrower to the lender to satisfy or to partially satisfy the mortgage debt.
Often times, a lender does not want to get it through the expense and delay of a foreclosure lawsuit.
In certain circumstances, they will allow and negotiate with the borrower that the borrower simply convey title to the property to the lender in lieu of the lender initiating and completing the foreclosure process.
- How long does the foreclosure process usually take in Florida?
- What are tax deed sales?
- What do I do after I am served with a summons and foreclosure complaint?
- What happens if I just mail the keys to the bank and walk away?
- What is a deed in lieu of foreclosure?
- What is a deficiency judgment?
- What is a judgment debtor’s examination?
- What is a lis pendens?
- What is a short sale?
- What is foreclosure?
- Why are affirmative defenses to a foreclosure different than just an answer with denials?
- Do I have to move out of my home during the foreclosure process in Florida?
- Does a tax deed sale provide a marketable title?