Kentucky Deed in Lieu of Foreclosure Law
A deed in lieu of foreclosure only means you automatically and immediately lose possession of the home. A deed in lieu will not normally be accepted when there are other liens against the home or a second mortgage. Rather, each lien and mortgage has to agree to release their lien. Moreover, you have to get […]
Learn About Louisville Short Sales
The major benefit of a short sale is that your FICO score will be about 25 points higher than if you file bankruptcy. Bankruptcy will drop a great FICO score by about 100 points. On the other hand, a short sale will drop it about 80 points. However, for some rarely used mortgage programs, if […]
Deeds in Lieu of Foreclosure
Definition: A deed in lieu of foreclosure is when the homeowner turns the deed over to the mortgage company to avoid foreclosure. The bank may agree to a Deed in Lieu of Foreclosure to not pursue you for a deficiency. But, unfortunately, it still causes a tax problem. Even if the mortgage company agrees to […]
