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hiring0604 · Joined: 13 Feb 2009 Posts: 1 1.26 Dollars($)

dil of foreclosure vs a shortsale, which has the least negative impact on credit score

kingno1 · Joined: 25 Apr 2008 Posts: 61 21.19 Dollars($)

DIL is equallent to forclosure = 250 points - 2-3 yrs.
Short sale = 75-100 points - would be able to buy in 1 yr.

smithsussane · Posted: Fri Feb 13, 2009 7:46 pm Post subject:

Hi hiring!

Welcome to forums!

I agree with kingno1 here. A deed in lieu lowers your credit score by 250 points and also remains in your credit report for around 4 years. Whereas in short sale, the credit score is dropped by around 75-100 points. Thus, if a person wants to save his/her credit score, then short sale is a better option.

Feel free to ask if you have further queries.

Sussane

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deed in lieu vs shortsage