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Updated almost 5 years ago, 03/09/2020
Borrower defaulted - should I accept deed in lieu of foreclosure?
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.