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Deed in lieu of foreclosure. A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower ...
August 27, 2024 at 11:32 PM. Aug. 27—Yet another lawsuit has been filed against Santa Fe real estate and art magnate Gerald Peters, who has been named a defendant in several complaints filed by ...
So, a deed in lieu of foreclosure is the legal process in which the title of a home (the deed) is transferred from the homeowner to their mortgage lender to prevent (in lieu of) foreclosure. If ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...
The Florida Keys are a coral cay archipelago off the southern coast of Florida, forming the southernmost part of the continental United States. They begin at the southeastern coast of the Florida peninsula, about 15 miles (24 km) south of Miami and extend in a gentle arc south-southwest and then westward to Key West, the westernmost of the ...
Loss mitigation. Loss mitigation[1] is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure.
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