{"id":1837,"date":"2018-02-15T06:39:28","date_gmt":"2018-02-15T06:39:28","guid":{"rendered":"http:\/\/www.realestatewords.com\/?page_id=1837"},"modified":"2018-02-15T06:39:28","modified_gmt":"2018-02-15T06:39:28","slug":"deed-in-lieu-of-foreclosure","status":"publish","type":"page","link":"https:\/\/www.realestatewords.com\/deed-in-lieu-of-foreclosure\/","title":{"rendered":"Deed in Lieu of Foreclosure"},"content":{"rendered":"<p>A deed to real property from a defaulting borrower and accepted by the lender to avoid the necessity of having the lender go through formal foreclosure proceedings.<\/p>\n<p><strong>Deed-in-Lieu of Foreclosure<\/strong><\/p>\n<p>Used by owners to voluntarily convey the title of their property to the mortgagee\/beneficiary (lender) to avoid the negative credit consequences of a foreclosure. Lenders are generally reluctant to accept a \u201c\u201ddeed in lieu\u201d&#8221; unless the title is free and clear of any other encumbrances junior to theirs and the owners execute an estoppel affidavit acknowledging that they are acting volitionally with informed consent. A homeowner can qualify for a deed-in-lieu of foreclosure if:<\/p>\n<ul>\n<li>They are in default and do not qualify for any of the other options;<\/li>\n<li>All attempts at selling the house before foreclosure were unsuccessful; and<\/li>\n<li>There is no other mortgage in default.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A deed to real property from a defaulting borrower and accepted by the lender to avoid the necessity of having the lender go through formal foreclosure proceedings. Deed-in-Lieu of Foreclosure Used by owners to voluntarily convey the title of their property to the mortgagee\/beneficiary (lender) to avoid the negative credit consequences of a foreclosure. Lenders [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages\/1837"}],"collection":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/comments?post=1837"}],"version-history":[{"count":0,"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/pages\/1837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realestatewords.com\/wp-json\/wp\/v2\/media?parent=1837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}