Monday, July 20, 2009 by
As with a standard deed in lieu of foreclosure, a “forced” deed in lieu is a legal avenue that borrowers in default and facing disclosure might come across. In a forced deed in lieu, a borrower follows all the requirements to obtain a deed in lieu without yet having the lender's consent to the proceeding. In other words, the borrower begins the process hoping that the lender will later agree.
Risk of Forced Deed in Lieu
The forced deed in lieu carries greater risk...
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