Escrow & Title
A 'deed in lieu of foreclosure' in NC allows a distressed borrower to:
ARefinance the loan at a lower rate
BTransfer the deed voluntarily to the lender to satisfy the debt and avoid foreclosure proceedings✓ Correct
CSell the property at a loss with lender approval
DDelay foreclosure indefinitely
Explanation
A deed in lieu of foreclosure is a voluntary conveyance of the property to the lender in exchange for release from the mortgage debt, avoiding the foreclosure process.
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