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 is a Deed in Lieu?

A Deed In Lieu is just that: a deed back to the bank in lieu of foreclosure. You are simply calling the bank to say you are done and they can come get the keys to your San Diego home. If you have one loan, you will probably be allowed to sign a deed-in-lieu. If you have two loans, this is usually not an option. Oddly, while...

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