Under a Deed in Lieu of Foreclosure, a Lender Agrees

question 64

True/False

Under a deed in lieu of foreclosure, a lender agrees to surrender the deed to mortgaged property to the mortgagor and to forego payments on the loan.

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Definitions:

Distress

A negative emotional state resulting from perceived threats, challenges, or harm, often leading to discomfort or pain.

Age

The length of time that a person has lived or a thing has existed, often used as a measure of maturity, development, or lifespans.

Central Nervous System

Brain and spinal cord.

Newborns

Infants in the very first weeks of life, typically considered to be up to 1 month old.