28 September 2022

Deed-in-Lieu of Foreclosure

A deed-in-lieu of foreclosure is a document transferring the title of a property from a homeowner to the bank that holds the mortgage. A homeowner might submit a deed-in-lieu of foreclosure if the bank has denied them a loan modification or short sale.

However, the bank can deny the request for a deed-in-lieu and often do so in many cases.