Mortgage Forum
Short sale vs. deed-in-lieu
This is a discussion on Short sale vs. deed-in-lieu within the Mortgage Talk forums, part of our Mortgage Chat category; I own rental properties that I got behind on due to andquot;not so goodandquot; tenants. I have the option ...
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July 1st, 2008, 05:43 AM
| #1 |
| Senior Member Join Date: Apr 2008
Posts: 1,498
|  Short sale vs. deed-in-lieu I own rental properties that I got behind on due to andquot;not so goodandquot; tenants. I have the option to do a short sale with the lender or a deed-in-lieu? Can anyone tell me which would be better for me in regards to my credit, taxes etc. Thanks |
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July 1st, 2008, 07:18 AM
| #2 |
| Junior Member Join Date: May 2008
Posts: 13
| Re: Short sale vs. deed-in-lieu short sale is better than deed in lieu. This is why: Short sale Deed in lieu Credit bad 1-2yrs bad 5-7 yrs taxes negotiable negotiable judgments negotiable negotiable usually a bank won't do the deed in lieu until all options are exhausted, that includes a short sale. So try the short sale first unless you only have a couple months until foreclosure. |
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| Thread | Thread Starter | Forum | Replies | Last Post |
| deed in lieu vs. short sale | Mike | Mortgage Talk | 0 | June 28th, 2008 04:53 PM |
| Does a signed Warranty Deed make Deed-in-Lieu official? | Mike | Mortgage Talk | 0 | May 18th, 2008 11:48 PM |
| short sales / deed in Lieu of foreclosure | Mike | Home Mortgage | 1 | May 6th, 2008 09:23 AM |
| Deed in lieu and short sale (1099 question) | Mike | Mortgage Talk | 0 | April 26th, 2008 04:10 PM |
| Deed in Lieu | Mike | Home Mortgage | 0 | April 15th, 2008 02:48 AM |
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