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Why does the process take so long and....

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.

Posted on: 24th Dec, 2006 07:14 am
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.


Posted on: 24th Dec, 2006 08:16 pm
You can get loans within a year but you need to look out for the right lender.
Posted on: 26th Dec, 2006 03:54 am
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