Posted on: 14th Dec, 2008 10:34 am
how do you know if the lender accepts DIL ?
Hi ford!
Welcome to forums!
You will have to speak to the lender and apply for a deed in lieu. For this you will have to write a hardship letter. If the lender accepts a deed in lieu, he will inform you about that and start the process in order to complete it. But you should remember that a deed in lieu will lower your credit by around 250 points. To know more about deed in lieu foreclosure and how it affects credit, check out the following links:
Deed in lieu Foreclosure
How Deed in lieu of foreclosure affects credit score
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You will have to speak to the lender and apply for a deed in lieu. For this you will have to write a hardship letter. If the lender accepts a deed in lieu, he will inform you about that and start the process in order to complete it. But you should remember that a deed in lieu will lower your credit by around 250 points. To know more about deed in lieu foreclosure and how it affects credit, check out the following links:
Deed in lieu Foreclosure
How Deed in lieu of foreclosure affects credit score
Feel free to ask if you have further queries.
Sussane