A deed in lieu of foreclosure
is a transfer of title in real property from the property owner to the lender, in order to avoid foreclosure or to cease the process.
You might recall the bank entered the ownership picture through a deed in lieu of foreclosure
as part of a June 2009 settlement to end cross litigation between the bank and Combs.
The transaction completes a building repositioning that started in 2011, when United American Land (UAL) acquired the vacant property's defaulted mortgage and deed in lieu of foreclosure
Additionally, the company mentioned that before the end of the second quarter it completed the transfer of the Boulevard Mall in Las Vegas, Nevada to its lender via a deed in lieu of foreclosure
, completed in a tax-efficient manner as part of a 1031 exchange, which is expected to improve its overall leverage and operating metrics.
Most of these homes have already gone thru foreclosure or deed in lieu of foreclosure
and are ready for a new buyer.
OTC: FFFC) and Net Life Holdings said their new innovative mortgage product will target the large demographic group of boomerang buyers, previous homeowners who have experienced foreclosures, short sales and deed in lieu of foreclosure
circumstances in their past.
Now the firm has discovered that far from being averse to the mortgage market, almost 80% of its former clients surveyed expressed a desire to purchase another home within a year after losing the first one in a foreclosure, short sale or deed in lieu of foreclosure
The Portland-based lender last month took ownership of a sprawling subdivision in the Laurel Hill Valley neighborhood from East Ridge Development LLC in a deed in lieu of foreclosure
When home retention is not an option, sometimes VA can help arrange a sale or deed in lieu of foreclosure
, which are better options for veteran borrowers than foreclosure.
In 2009, he defaulted on the mortgage and offered to hand in the keys to Riverton in a deed in lieu of foreclosure
Gain or loss from a foreclosure, or the transfer of a deed in lieu of foreclosure
, is generally characterized as either Sec.
As part of an earlier agreement that the bank made with state attorneys general in October, it has allocated up to USD150m nationwide to assist certain borrowers who experienced a foreclosure, short sale or deed in lieu of foreclosure
on mortgages originated by Countrywide Financial Corp.