06/18/2026
Mortgage Term of the Day:
A Deed-in-Lieu of Foreclosure is when a homeowner voluntarily gives the property back to the lender to avoid going through a full foreclosure process.
🏠 It’s often used as a last resort when someone can no longer make mortgage payments.
✔️ It may have less impact on credit than a foreclosure
✔️ It helps avoid legal proceedings and extra fees
Always best to consult with a real estate or financial professional before choosing this option!