If you’re a commercial property owner facing the threat of foreclosure, or just skimming headlines you’ve likely seen the phrase “giving back the keys”. Although this expression may sound like an informal and straightforward...more
In a deed in lieu of foreclosure, a defaulting borrower agrees to convey the mortgaged property to the mortgage lender. But handing over the keys can raise a number of potential pitfalls. Below, we discuss some of these...more