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pay mortgage while pursuing a deed in liue of foreclosure

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kevin zamora Guest	Posted: Tue Aug 11, 2009 9:49 am    Post subject: pay mortgage while pursuing a deed in liue of foreclosure Like 0 Dislike 0 I have a equity line of credit (different lender) that I can still draw upon while I try to sell the house for 90 days. After 90 days, it will be nearly gone. THe equity line is small...about 30K. I am trying to sell my home at FMV and it above the value of both the first and equity line of credit (by about 30K). Is it smart or dumb to pay if I want to do a DILF if it doesn' sell? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Realgeni Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)	Posted: Tue Aug 11, 2009 7:28 pm    Post subject: Like 0 Dislike 0 kevin zamora This is really tricky situation. But if you keep making payments, you keep you credit report intact. If you are able to sell then you do nto loose anything. But if you cannot then if you do Deed in lieu, you will loose 250-300 points for sure, but not more than that This is more a personal call Good luck and feel free to ask
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Tue Aug 11, 2009 8:14 pm    Post subject: Like 0 Dislike 0 Hi kevin! Welcome back to forums! Your query has been answered in the given link: http://www.mortgagefit.com/california/dil-90days.html#113465 Please take a look at it. I hope it will help you. Sussane

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