The process wherein property owners give title to the lender to avoid a foreclosure.
A deed from the lender to the borrower to prevent foreclosure and to satisfy the unpaid balance of the mortgage.
A deed given by the mortgagor to the mortgagee to prevent foreclosure and to satisfy the unpaid balance of the mortgage.
A voluntary conveyance of the homeownerâ€™s property over to the lender to satisfy the delinquent debt and avoid foreclosure.
A deed from the owner (debtor) to a lender to prevent foreclosure. There are usually statutory provisions as to fairness of value and absence of coercion which must be recited on the deed.
A means of escaping an overly burdensome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in place of the money owed on the mortgage. Even if the lender won't agree to accept the property, the homeowner can prepare a quitclaim deed that unilaterally transfers the homeowner's property rights to the lender.
A deed given by a borrower to a lender to satisfy a debt and avoid foreclosure.
A deed given by a mortgagor to a mortgagee to satisfy a debt and avoid foreclosure.