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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Deed in Lieu of Foreclosure

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A technique sometimes used to prevent a property having to be sold once the borrower has defaulted several times on the repayments. With this type of scheme the property is deeded over to the lender so that the lender effectively fully owns the property and the borrower simply becomes a tenant.

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