DIL

hi rod,

a deed in lieu does affect your credit, though less than a bankruptcy or a foreclosure. deed in lieu is an option where the homeowner voluntarily gives away the deed of his house to the mortgage company. this can happen only if the debtor fails to sell the house in every possible way, and the debtor has no money to make the monthly payments.

in addition there should not be a second mortgage on which the debtor has defaulted on.

thanks,

sandra

Hi,

It was me Sandra above :) I had forgotten to log in.

Thanks,

Sandra