Posted on: 08th Oct, 2009 10:16 am
My father willed his house to his four daughters. The deed has been transerred into our names but NOT the mortgage. The house is worth less than the mortgage and is in bad repair. If we do a deed in lieu, will this affect our credit (or anything else) in any way?
if you do a deed in lieu, it will nto affect yoru credit report, since your name is nto on teh loan and you di nto sing the promisary note