Why does the process take so long and....

Guest 0.10 Dollars($)

how soon after a deed in lieu of forclosure can you get another mortgage on a less expensive home?

mcole · Posted: Sun Dec 24, 2006 8:14 am Post subject:

Some lenders will do it immediately. But your interest rate is going to be extremely high. And your down payment requirement will also be high.

Cool

sara · Posted: Sun Dec 24, 2006 9:16 pm Post subject: RE: home loan after deed-in-lieu

Hi Guest,

Welcome to the forums.

A deed-in-lieu is mentioned on your credit report as a negative item and stays on it for about 7 years. Wiithin this time period, you may qualify for loans but lenders are likely to charge you a higher interest rate.

Thanks,

Sara

Guest 0.10 Dollars($)

You can get loans within a year but you need to look out for the right lender.

All times are GMT - 7 Hours

Page 1 of 1