<Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (October 2007) (Learn how and when to remove this template message) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article does not cite any sources . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . (October 2007) (Learn how and when to remove this template message) </Td> </Tr> <P> A deed in lieu of foreclosure is a deed instrument in which a mortgagors (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings . </P> <P> The deed in lieu of foreclosure offers several advantages to both the borrower and the lender . The principal advantage to the borrower is that it immediately releases him / her from most or all of the personal indebtedness associated with the defaulted loan . The borrower also avoids the public notoriety of a foreclosure proceeding and may receive more generous terms than he / she would in a formal foreclosure . Another benefit to the borrower is that it hurts his / her credit less than a foreclosure does . Advantages to a lender include a reduction in the time and cost of a repossession, lower risk of borrower revenge (metal theft and vandalism of the property before sheriff eviction), and additional advantages if the borrower subsequently files for bankruptcy . </P>

What does deed in lieu of foreclosure mean
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