Jan 07 , 2016

Tampa School of Real Estate

Deed In Lieu Of Foreclosure

Definition: A friendly foreclosure (non-judicial process) in which the mortgagor gives title to the mortgagee.

Pronunciation: \ˈdēd\ \ˈlü\ \ˈfȯr -ˈklō-zhər\

Used in a Sentence:    When the property was in trouble the owner gave a deed of foreclosure to the lender.

D