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Helpful advice, tips and insights for your changing real estate needs.

You Should Know: Deed in Lieu of Foreclosure

The deed in lieu of foreclosure transfers the title of a house from the borrower to the lender. The lender owns the home, and the borrower gets out from under their mortgage. While a deed in lieu of foreclosure will still affect your credit report, it’s often less detrimental than a full foreclosure.

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