What is the different in points between deed in lieu and foreclosure?

Deed in lieu is a process in which you give yoru property to the lender and then the lender will sell it to collect the remianing moeny or part of it. But you are not laible to pay any deficient amount and the lender may send you a 1099C at the end of the year


In a foreclosure the lender forcloses the hpouse due to defult ( Not makign payment) and will sells the house in an auction to colelct the money you owe. The lender can come after you for the deficient amount to collect the remainign amoutn dependign on which state you live