Fannie Mae to Allow On-time Borrowers to Walk Away… Should You Sign a Deed-in-Lieu?

If you’re an underwater California homeowner, the answer is probably “No.” In California, you’re far better off to choose a short sale. Here’s the real story… At first glance, the Announcement that starting in March 2013 Fannie Mae and Freddie Mac would let borrowers who are current on their...

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Is a Deed-in-lieu safer or better than allowing a foreclosure?

Is a deed-in-lieu better than a foreclosure? In a word, no. So what’s the difference? In terms of your credit, there is no difference between a deed-in-lieu and a foreclosure. A deed-in-lieu merely saves the lender from spending the time and money to go through the foreclosure process. The only difference to you is that...

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What Are The Alternatives to Foreclosure?

What can I do if I want to avoid foreclosure? Walking away and letting a home go into foreclosure will destroy your credit rating for many years – and even longer if you get stuck in a zombie foreclosure. Let’s take a look at the other options for San Diego homeowners: Sign a deed-in lieu of foreclosure. Work with...

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