DEED-IN-LIEU

What is DEED-IN-LIEU?

DEED-IN-LIEU meaning in Urban terms is  To avoid foreclosure (“in-lieu” of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt. This process does not allow the borrower to remain in the house, but helps avoid the time, effort, and costs associated with foreclosure.

 

reference: Glossary of HUD Terms | US Department of Housing and Urban Development

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