Wichita Kansas Conveyance of Deed to Lender in Lieu of Foreclosure
Category:
State:
Multi-State
City:
Wichita
Control #:
US-02617BG
Format:
Word;
Rich Text
Instant download
Description
A deed in lieu of foreclosure is an agreement reached between a homeowner and a lender in which the homeowner turns over the deed to the home, and the lender agrees to halt foreclosure proceedings. Negotiating a deed in lieu of foreclosure agreement is a way to avoid foreclosure. As a general rule, in a deed in lieu of foreclosure settlement, the homeowner signs away the deed, giving the home to the lender, and the lender writes off the homeowner's debt, essentially canceling the mortgage.
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