Posted on: 03rd Jan, 2014 02:52 pm
I recently took my house of the market and am requesting a deed in lieu of. How will this affect my credit?
A deed-in-lieu of foreclsoure has about the same affect on credit as does a short sale.
Both are adverse credit actions.
It will affect your being able to get a new mortgage for several years.
Your credit scores will drop. No one can tell you how much they will drop.
Both are adverse credit actions.
It will affect your being able to get a new mortgage for several years.
Your credit scores will drop. No one can tell you how much they will drop.
Hi Angel!
Welcome to the forums!
To know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html .
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
To know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html .
Feel free to ask if you've further queries.
Sussane
A deed-in-lieu of will have the same kind of effect on your credit score as a short sale will have.