Not A True Arms-length Transaction Dil

foobar8565

LoanSafe Member
Feb 28, 2011
11
2
3
I completed a deed in lieu last year and the paperwork has been recorded as "NOT A TRUE ARMS-LENGTH TRANS DEED IN LIEU OF FORECLOSURE". What exactly does this mean?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
466
1,000
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Southern California
www.loansafe.org
That means that you did not deed it to a family member which in mortgage industry jargon is called an arm's length transaction.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
466
1,000
49
Southern California
www.loansafe.org
You are welcome!