Hi, my name is Karen. I am a HUD Approved Housing Counselor. Deed-in-Lieu is when generally you have tried to sell your property and you have been unsuccessful, generally the lender wants you to try to have sold the property for at least 60 days. You can't sell the property or you are not able to find a buyer for your property, you can't afford the property any longer. Sometimes with the permission of the mortgage company, the lender you can deed the property back to the lender.
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