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Close Topic OptionsDeed In Lieu
Deed Lieu - Politics, Business, Civil, History - Posted: 6th May, 2008 - 5:49pm
Posts: 2 - Views: 658
Post Date: 3rd May, 2008 - 9:14pm / Post ID: #
Deed In Lieu
Deed In Lieu
Can someone define for me what it means to have a "Deed In Lieu"?
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Post Date: 6th May, 2008 - 5:49pm / Post ID: #
Lieu Deed
A "deed in Lieu" is paper work you sign giving your property back to the bank or financial institution without going into foreclosure. This saves you from the negative impact a foreclosure would have on your credit report. Your basically saying you know you can not afford this property anymore and you are giving it back to the them. This saves them the costs of all the paperwork needed to foreclose on the property.
TOPIC: Deed In Lieu