Escrow & Title
In Washington, a deed-in-lieu of foreclosure is an agreement where:
AThe borrower conveys the property to the lender voluntarily to avoid foreclosure✓ Correct
BThe lender sells the deed to a third party
CThe trustee issues a deed without the borrower's consent
DThe government takes title in lieu of foreclosure
Explanation
In a deed-in-lieu of foreclosure, the borrower voluntarily conveys the property to the lender to avoid the formal foreclosure process. The lender typically requires that the property be free of other liens for the arrangement to work.
Related Washington Escrow & Title Questions
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