Q.What is Surrender of the Title Deed in Lieu of Foreclosure?

A.Surrender of the Title Deed in Lieu of Foreclosure occurs when a borrower tells the lender that it needn't bother with the formalities and technical requirements of a foreclosure because the borrower is willing to just turn over the keys and title to the property, rather than lose it in foreclosure. Although some lenders will accept the surrender, others won't and in most cases should only be offered as a last resort.

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