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What is a foreclosure deed?
A foreclosure deed is the deed required to be filed by the winning bidder at the auction, usually within 30 days, assuming the bidder is able to complete whatever s/he needs to actually pay for the...
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What is deed-in-lieu of foreclosure?
When a mortgage is delinquent and loss of the home is inevitable, a borrower may negotiate with the bank to return the home. They hand over the "deed" instead of the bank paying a trustee or attorney...
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Can a quitclaim deed stop foreclosure?
No. The mortgage takes priority over the deed since it was granted first. The grantee in the quitclaim deed takes the property subject to the mortgage.
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How will a Deed in lieu of foreclosure effect your credit?
If the bank is about to foreclose on your property, you may be able to make a deal with them. Instead, of have them having to hire a lawyer and pay him several hundred dollars an hour and go to court...
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How do you proceed with a deed in lieu of foreclosure and what are the advantages?
One advantage is that the foreclosure process will end sooner. Once the bank accepts the deed in lieu of foreclosure, all of the legal procedures come to a end immediately. The bank accepts the deed...