Escrow & Title
In NH, the term 'deed in lieu of foreclosure' means the borrower:
ASues the lender to avoid foreclosure
BVoluntarily conveys title to the lender to satisfy the debt and avoid foreclosure proceedings✓ Correct
CReceives a new deed after paying off arrears
DTransfers the deed to a buyer directly without the lender's knowledge
Explanation
A deed in lieu of foreclosure is a voluntary conveyance of the property from the borrower to the lender in satisfaction of the mortgage debt, avoiding the foreclosure process. The lender must agree to accept it.
Related New Hampshire Escrow & Title Questions
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