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How long does a deed in lieu of forclosure stay on your credit report?
Wiki User
∙ 9y ago
The amount of time that a deed in lieu of foreclosure stays on your credit report depends on the state. The minimum amount of time is seven years. In some states they stay on indefinitely.
Wiki User
∙ 9y ago
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Will a deed in lieu of foreclosure appear on your credit report?
From what I have gathered so far, a forclosure is the worst thing for your credit next to bankruptcy, and a deed in lieu is just better than a forclosure.
Will a deed in lieu of foreclosure go on your credit report?
Yes.
How long will your credit be affected with a deed in lieu of foreclosure?
The item will remain on your report for 7 years.
Does a Deed in lieu of foreclosure affect credit the same as a foreclosure?
Deed in lieu of foreclosure is not nearly as devastating to your credit as is a full foreclosure. Below is an article about the pros and cons of deed in lieu.
How long does a deed in lieu stay on your credit?
7 yrs
Can a foreclosure be removed from your credit if legal proceedings never took place?
My ex boyfriend & I bought a house in 2005 the mortgage was in his name but the deed was put in both our names, I moved out over 2 & 1/2 years ago and had no idea he has not been making payments in the past six months. And now I have been served a forclosure notice. I don't mind giving the deed in lieu of forclosure but what I need to know will this affect my credit?????????????
How bad would a deed in lieu of foreclosure affect your credit?
From what im told it is not quite as bad as a full forclosure. It will take about 2 years to recover from. I do not no this for sure but if you find a better answer please let me know I am in the same boat with some properties that I own.
Can you do Deed in lieu after foreclosure?
deed in lieu after foreclosure?
Can you use a deed in lieu to put property you bought from father back into fathers living trust without effecting credit if he agrees?
You need to provide more details. A deed in lieu is a deed from a borrower to a lender in lieu of a foreclosure. That does not seem to be your case. You can provide more detail on the discussion page.You need to provide more details. A deed in lieu is a deed from a borrower to a lender in lieu of a foreclosure. That does not seem to be your case. You can provide more detail on the discussion page.You need to provide more details. A deed in lieu is a deed from a borrower to a lender in lieu of a foreclosure. That does not seem to be your case. You can provide more detail on the discussion page.You need to provide more details. A deed in lieu is a deed from a borrower to a lender in lieu of a foreclosure. That does not seem to be your case. You can provide more detail on the discussion page.
Deed in lieu?
Often confused with a "short sell", a "deed in lieu" is used when a homeowner facing foreclosure asks the lender to accept the deed instead (in lieu) of foreclosure. A sample request for a deed in lieu can be found at the source below.
Foreclosures Deed in Lieu or Bankruptcy what is best?
There is no best. Your credit is shot either way. A deed in lieu will not prevent the lender from pursuing the deficiency unless an agreement for the deed is carefully drafted. It will not get rid of other creditors. Whichever way you want to go, check with a competent lawyer first.
Is a deed in lieu of foreclosure better than a foreclosure on your credit report?
Yes. Answer {| |- | This is where you are unable to pay for the house and you voluntarily give the house back to the lender. This is subject to a deficiency judgment yet counts as a "less serious" foreclosure on your credit. However, you lose your greatest asset, your home. |}
