Posted on: 23rd Dec, 2006 09:08 pm
how soon after a deed in lieu of forclosure can you get another mortgage on a less expensive home?
Some lenders will do it immediately. But your interest rate is going to be extremely high. And your down payment requirement will also be high.
8)
8)
Hi Guest,
Welcome to the forums.
A deed-in-lieu is mentioned on your credit report as a negative item and stays on it for about 7 years. Wiithin this time period, you may qualify for loans but lenders are likely to charge you a higher interest rate.
Thanks,
Sara
Welcome to the forums.
A deed-in-lieu is mentioned on your credit report as a negative item and stays on it for about 7 years. Wiithin this time period, you may qualify for loans but lenders are likely to charge you a higher interest rate.
Thanks,
Sara
You can get loans within a year but you need to look out for the right lender.