A Deed-in Lieu of Foreclosure

When a homeowner can no longer afford to pay their mortgage, they run the risk foreclosure, wherein the lender (usually their bank) reclaims the property and forces the homeowner to relocate. In order to avoid these often public and embarrassing proceedings, the homeowner can instead ask for a deed-in-lieu of foreclosure, where they transfer the title of the property to the bank willingly while given time to relocate. Our upcoming pre-licensing courses are filling up fast so make sure to secure your spot! Details are at tocrres.com/register ! #RealEstate #OnlineLearning