deed in lieu of foreclosure
Definition
Transfer (conveyance) of right of ownership (title) in a property from a borrower-in-default to the lender to whom the property was mortgaged. This approach is used to avoid the expenses and stigma associated with foreclosure proceedings.
Popular 'Banking, Commerce & Finance' Terms
deed in lieu of foreclosure in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/deed-in-lieu-of-foreclosure.html
