Posted on: 24th May, 2011 12:57 pm
How does the Deed in Lieu affect your credit?
It depends on how it is recorded. If it says paid less than account balance, you are settling your account. Your mortgage lates are going to be what hurts your credit the most, or if it goes into foreclosure.
welcome yvesatl,
a deed in lieu of foreclosure may lower your credit scores by around 250 points. moreover, it will remain on your credit report for the next 7 years. to know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html
a deed in lieu of foreclosure may lower your credit scores by around 250 points. moreover, it will remain on your credit report for the next 7 years. to know all about deed in lieu of foreclosure, you can check out the given page: http://www.mortgagefit.com/deed-lieu.html
