Definition
Deed in Lieu of Foreclosure
Voluntarily transferring the property to the lender to satisfy the debt and avoid foreclosure proceedings.
Nearby terms
Debt-to-Income Ratio
Total monthly debt obligations divided by gross monthly income.
Deed
The legal instrument transferring ownership of real property from one party to another.
Deed of Trust
A security instrument used instead of a mortgage in many states, involving a trustee who holds title until the debt is satisfied.
Delayed Financing
An exception permitting a cash buyer to take cash-out financing shortly after purchase, without the usual seasoning requirement.
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