Term: Deed in Lieu of Foreclosure 

A legal arrangement/agreement where a borrower transfers ownership of a mortgaged property to a lender to fulfill a loan agreement and avoid foreclosure.  

Articles relating to Deed in Lieu of Foreclosure: 

Why You Should Consider a Deed in Lieu of Foreclosure

What is a Deed in Lieu of Foreclosure? A Deed in Lieu of Foreclosure (“DIL”) is a deed instrument where the borrower in a loan transaction conveys its interest in …

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