Deed in Lieu of Foreclosure- Turning the property over to the lender. Essentially you are giving the lender your home  in lieu of being foreclosed on. Basically you are walking away from the entire house payments and there are certain restrictions based on each individual mortgage company. This is one of the least favorable solutions because the homeowner walks away from everything, but can be slightly better than an actual foreclosure. 

 

 

 

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