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    lindaddd777's Avatar
    lindaddd777 Posts: 1, Reputation: 1
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    #1

    May 20, 2008, 09:08 AM
    Deed to house
    What does it mean when someone says the bank is taking back the deed to their house?
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #2

    May 20, 2008, 09:30 AM
    It means that the owner is giving the bank a deed in lieu of foreclosure. That means that the owner and the bank have agreed that the owner will give the house to the bank instead of the bank filing a lawsuit to foreclose on the mortgage.
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