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Want to get out of mortgae without having a foreclosure

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Guest	Posted: Thu Sep 16, 2010 7:32 pm    Post subject: Want to get out of mortgae without having a foreclosure Like 0 Dislike 0 Going through a divorce and want be able to afford the mortgage on my own. Would filing for a deed in lieu help me get out of the mortgage.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Sep 16, 2010 10:17 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! A deed in lieu of foreclosure will help you in getting rid of the property and the mortgage. However, this will impact your credit score in a negative way. Your score will reduce by 250 points and you won't be able to get a mortgage immediately after this. You need to wait for 3-4 years in order to apply for a mortgage. Feel free to ask if you've further queries. Sussane

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