 |
Deed in Lieu of Foreclosure |
| |
 |
Is “Deed in lieu of Foreclosure”, a good option. What are the negative and positive implications? |
| |
| |
 |
If the lender agrees to take the property in full payment for the mortgage loan, your credit rating won't take quite as bad a hit as it would if you let the place go to a foreclosure auction. In addition, the lender will give up the right to come after you for the unpaid balance still due.
It's not great, but it's a lot better than foreclosure. |
| |
|
Edith
Originally published on January 19, 2008 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
