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Is Deed in Lieu more beneficial for bank or borrower?

Is Deed in Lieu more beneficial for bank or borrower?

In most cases a deed in lieu can favor a bank more than it favors a homeowner. Most people face the deed in lieu decision after the bank has either denied a loan modification or rejected a short sale. Of course, if you have equity, you would sell the home before considering a deed in lieu, but some sellers facing this decision do not have any equity because their mortgage is underwater.

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