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How will a deed in lieu of foreclosure on a timeshare affect my chance of buying a house in the near future?

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Guest	Posted: Tue Feb 15, 2011 12:23 pm    Post subject: How will a deed in lieu of foreclosure on a timeshare affect Like 0 Dislike 0 How will a deed in lieu of foreclosure on a timeshare affect my chance of buying a house in the near future? I am on the Deed, the other person has stopped paying but I cannot afford it by myself. The lender sent me the paperwork for deed in lieu of foreclosure.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Feb 15, 2011 7:39 pm    Post subject: Like 0 Dislike 0 Hi Guest, If your name is not mentioned on the mortgage docs, then the deed in lieu of foreclosure will not affect you in any way. However, if your name is mentioned on the mortgage docs, then your scores will go down by 250 points and you won't be able to get a new loan within the next 3-4 years. Thanks

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