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deed in lieu vs. loan modification

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malgrudz Joined: 10 Mar 2011 Posts: 1 1.26 Dollars($)	Posted: Thu Mar 10, 2011 4:37 pm    Post subject: deed in lieu vs. loan modification Like 0 Dislike 0 is it better to rent out the house, or take the hit with a deed in lieu and just walk away. i do not want the house but not sure if i want the headache of renters? I have been offered both options from my lender.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Thu Mar 10, 2011 10:15 pm    Post subject: Like 0 Dislike 0 Hi malgrudz, You can go for the option of deed in lieu of foreclosure in order to get rid of the property. Though it will affect your credit scores badly, you won't be liable for paying any deficient balance to the lender. Thanks

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