Finance
A deed in lieu of foreclosure allows a borrower to:
AKeep the property by making overdue payments
BVoluntarily transfer title to the lender to avoid foreclosure proceedings✓ Correct
CSell the property below market value with lender approval
DTransfer the mortgage to another borrower
Explanation
In a deed in lieu of foreclosure, the borrower voluntarily conveys title to the lender in exchange for the lender releasing the mortgage debt and avoiding the formal foreclosure process.
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