What is a deed in lieu?
In Investments - Real Estate - Asked by Admin - 15 months ago
A deed in lieu is also called a deed in lieu of foreclosure. This means the borrower is in default but wants to try to avoid foreclosure. The lender does not have to stop foreclosure activities but even if the deed-in-lieu is accepted the borrowers credit history will show the default. But this can stop the foreclosure from becoming public record.
Answered by Admin - 15 months ago