Finance
In Tennessee, a 'deed in lieu of foreclosure' allows a borrower to:
ARefinance the loan to avoid foreclosure
BTransfer the property to the lender voluntarily in exchange for release from the mortgage obligation✓ Correct
CSell the property and keep the proceeds
DNegotiate a lower monthly payment
Explanation
A deed in lieu of foreclosure allows the borrower to voluntarily convey the property to the lender, typically in exchange for release from the mortgage debt, avoiding the formal foreclosure process.
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