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What Is Deed in Lieu of Foreclosure?

A deed in lieu of foreclosure is a voluntary agreement where a borrower hands the property's deed directly to the lender to satisfy a defaulted loan, avoiding the time and cost of a formal foreclosure for both sides.

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Deed in Lieu of Foreclosure
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.

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