Posted on: 30th Aug, 2010 08:36 am
In February of 2010 we did a deed in lieu. The bank agreed to post on our credit report that it was paid in full and that is how it shows. We would like to buy a house next summer, will we be able do do that fith a FHA loan? The deed in lieu does no show up on our credit report...will it show up someplace else an underwriter can see?
Hi Guest,
After DIL whether your credit score decreased? if not then it is not yet reported by the bank to credit bureau.If it is decreased then it must reflect in your credit report.I think you should check this issue with all the credit bureaus.Just check it out whether the same thing has happened with all other credit bureaus as well or not.
DIPA
After DIL whether your credit score decreased? if not then it is not yet reported by the bank to credit bureau.If it is decreased then it must reflect in your credit report.I think you should check this issue with all the credit bureaus.Just check it out whether the same thing has happened with all other credit bureaus as well or not.
DIPA
It has hit my credit report. On my credit report, on all three sites, it shows my mortgage paid in full..nothing said about deed in lieu. I'd like to hear from an underwriter to hear their thoughts.
Hi Guest!
Welcome to forums!
If a deed in lieu is not mentioned in your credit report, then your credit score will not get reduced. Also, as there is no mention of the negative item on your report, you would be able to qualify for a loan immediately.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If a deed in lieu is not mentioned in your credit report, then your credit score will not get reduced. Also, as there is no mention of the negative item on your report, you would be able to qualify for a loan immediately.
Feel free to ask if you've further queries.
Sussane
I think if it does not show up on your credit report it will not affect your credit score and you will be able to qualify for a new FHA mortgage.