Deed-in-Lieu, Glossary and Terms, Mortgage Brokers, Banks US

U.S Mortgage Brokers Mortgage Brokers, Banks US, Rate, Review, Remortgage

"Deed-in-Lieu"

To avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt; this process does not allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure.

Mortgage glossary and terms by letter

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