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Updated almost 5 years ago,
Deed Transfer during pre-foreclosure
Hypothetical question,
If a borrower of an active mortgage is at pre-foreclosure and they decide to transfer the deed to another individual, what are the consequences for borrower and if any for the new individual that acquired the deed? And would this even be possible?
I know when the borrower transfers the deed it triggers the Due-on-Sale Clause. Would that even matter to the borrower at this point? Or are there more  consequences?
Thanks!