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Updated almost 5 years ago, 03/09/2020

Account Closed
  • Rental Property Investor
  • Arizona
50
Votes |
213
Posts

Borrower defaulted - should I accept deed in lieu of foreclosure?

Account Closed
  • Rental Property Investor
  • Arizona
Posted

Hello,

I have a question regarding deed in lieu of foreclosure vs. foreclosure itself. My borrower is in default and offered to "sign the title over" to me.  If I have a title search done and it comes back with no junior liens or encumbrances, is it safe to do a deed in lieu of foreclosure? This property is located in Florida.

Thank you.

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