Deed In Lieu Of Foreclosure
Legal document that conveys real estate to the lender after the borrower defaults on his or her mortgage payments. The borrower should demand cancellation of the unpaid balance and a confirmation letterform the lender. The lender is relieved of the inconvenience of foreclosure proceedings actions. It is a voluntary act by both borrower and lender.
Popular Real Estate Terms
A map that shows land elevations. ...
Situation where a neighbor hood is gradually occupied by progressively lower income people. ...
One based on the whole body of the law. A lawful right is being exercised. ...
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Person's title to real estate giving him exclusive power and rights owner it. ...
Loan mandating equal periodic payments to pay off the loan subsequent to the last payment. ...
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