This is the type of a deed offered when you purchase a bank owned home. Your closing attorney can break down what it mean sin legal terms. In short it is a warranty deed that notates the foreclosure. It is a type of deed accepted by thw title insurance companies and mortgage comaponies for you to be able to get a mortgage,
Chad - your best bet is to check with your attorney. If you havent hired an attorney for your upcoming transaction then this is a great time to make that move.
If you would like a recommendation please feel to reach out at anytime
Senior VP of Mortgage Lending
773 290 0455