Escrow & Title
In South Carolina, a 'deed in lieu of foreclosure' means the borrower:
APays extra to avoid the deed transfer
BVoluntarily transfers the deed to the lender to avoid foreclosure proceedings✓ Correct
CReceives the deed back after paying all arrears
DUses the deed as collateral for an additional loan
Explanation
A deed in lieu of foreclosure is when a borrower voluntarily conveys the property to the lender in exchange for release from the mortgage obligation, avoiding the time and expense of formal foreclosure.
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