What does it mean when someone voluntarily forfeits their mortgage?
What does it mean when someone voluntarily forfeits their mortgage? I need to know how this happens? What the benefits are? What are the disadvanatges? The person was going into foreclosure so is this a better option? If so why?
When you forfeit your mortgage it is called a Deed-in-lieu of Foreclosure.
Here is some more information on that.
http://www.afscanhelp.com/deed.cfm