Deed In Lieu Of Foreclosure
What is it? Voluntarily signing over to a lender the property pledged as collateral on a defaulted loan. It is an alternative to a foreclosure action. Its main disadvantage to a lender is that the deed does not wipe out junior liens, as a foreclosure action would. (SAdded By: Logan
The Deed In Lieu Of Foreclosure definition has been viewed 118 Time(s)!
Send To Friends!
If you'd like to send the Deed In Lieu Of Foreclosure definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Deed In Lieu Of Foreclosure. If you need any more information on this term, please don't hesitate to contact us.