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I am interested in a deed-in-lieu to save my credit

February 14, 2008

I am a builder by trade. This recent market collapse has hit me hard. I haven't drawn any income since 10/2007 and our money is gone. Our home has been on the market since November of 2007 and we have yet to get an offer. I am interested in a deed-in-lieu to help to protect my credit as much as I can since I use it for a living. I've tried calling and talking to my mortgage holder, but it has been in vain. I was 2 months behind, but borrowed money from relative and got current, but now we are starting to get late again, and for us there is no end in site, so we want to get out and save our credit if at all possible. Our prior bankruptcy comes off our record at the end of this year, and the last thing we want is to add another 7 years to it with a foreclosure. That is why I'm interested in the deed-in-lieu, but I'm well aware of the fact that Option One would have to approve it. I'm going to set a drop dead date of when we're going to be out of the house regardless of their desires. I have to do this for my family so we can get straight and start to rebuild.

This entry was:
Posted By Andy at 01:15 PM
Comments (0) | Categories: Option One, South Carolina Foreclosure | Tags: option one south carolina
 

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