Deed in Lieu

A Deed in Lieu of foreclosure conveys the title of your property to the lender. The Deed in Lieu is requested by a borrower who is in default on mortgage payments and wants to avoid foreclosure. While the non-payment of debt will show up on your credit history, you will avoid having the matter become part of the public record as it would in a foreclosure.

Related Articles:

How New York Homeowners Can Live Rent Free

« Back to Glossary Index

Spread the word. Share this post!

Leave Comment