Deed in Lieu?

Posted by Karrie on October 23, 2002 at 16:56:40:

My husband and I who now live in Maryland, have been trying to sell our house on the Mexico/Texas border for almost a year with no luck. We have dropped the price to below what we owe and have gone through 3 different agencies. We don't want to ruin our credit but can't afford rent here and house payment there. The VA told us to contact our lender about the Deed in Lieu program. My questions are: What is a Deed in Lieu? how would doing this affect our credit? Is there anything else we can do?
Karrie

Follow Ups:

• Re: Deed in Lieu? - Karen 17:13:17 10/31/02 (0)

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: My husband and I who now live in Maryland, have been trying to sell our house on the Mexico/Texas border for almost a year with no luck.  We have dropped the price to below what we owe and have gone through 3 different agencies.  We don't want to ruin our credit but can't afford rent here and house payment there.  The VA told us to contact our lender about the Deed in Lieu program.  My questions are: What is a Deed in Lieu? how would doing this affect our credit? Is there anything else we can do?
: Karrie


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