Posted on: 13th May, 2010 01:45 pm
i got into a timeshare last year and now want out of it. it is too expensive and i can't continue paying it.
how do i do a deed in lieu of foreclosure??
how do i do a deed in lieu of foreclosure??
Hi flores!
Welcome to forums!
You need to contact your lender and apply for a deed in lieu of foreclosure. The lender will judge your financial situation in order to let you know whether or not he would accept your request. If your request for a deed in lieu of foreclosure is accepted, then you will be able to get rid of the property. However, this will have a negative affect on your credit report as your credit score will get reduced by 250 points.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You need to contact your lender and apply for a deed in lieu of foreclosure. The lender will judge your financial situation in order to let you know whether or not he would accept your request. If your request for a deed in lieu of foreclosure is accepted, then you will be able to get rid of the property. However, this will have a negative affect on your credit report as your credit score will get reduced by 250 points.
Feel free to ask if you've further queries.
Sussane