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A foreclosure is filed with the court but is avoided with a deed of trus in leau is the foreclosure still valid for the credit report?
4 Answers
- linkus86Lv 76 years ago
A deed in lieu of foreclosure is the same as a foreclosure as far as the credit report is concerned. The only real difference is the borrower doesn't get all the added extra fees associated with foreclosure added to their original debt.
- Anonymous6 years ago
The "in lieu of foreclosure" simply means that you are allowing them to foreclose without going through all the trouble and cost of a judicial (or even non-judicial) foreclosure. But it is still a foreclosure.
