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Deed in Lieu

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yvesatl Joined: 24 May 2011 Posts: 1 1.25 Dollars($)	Posted: Tue May 24, 2011 12:57 pm    Post subject: Deed in Lieu Like 0 Dislike 0 How does the Deed in Lieu affect your credit?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue May 24, 2011 2:31 pm    Post subject: Like 0 Dislike 0 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. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue May 24, 2011 7:01 pm    Post subject: Like 0 Dislike 0 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 _________________ Procrastination is the enemy of your financial success

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