What is the difference between a deed in lieu and foreclosure? Answer: A deed in lieu of foreclosure (also known as a deed in lieu) still results in you having to leave your home. However, you’ll technically avoid having “foreclosure” on your credit report and you’ll avoid being evicted from your home. What is […]
May 3, 2012
What is the difference between how a deed-in-lieu is reported on my credit score vs. a short sale?
What is the difference between how a short sale is reported on my credit vs. a deed-in-lieu? A. This is right out of the MHA Handbook: (Credit) Reporting for Deed in Lieu should be as follows: Account Status Code = 89 (deed-in-lieu of foreclosure on a defaulted loan) Payment Rating = 0, 1, 2, 3, […]