Return The Property?

What effect does returning the property back to lender have on the credit? I was told its better than having a foreclosure.

Comments(2)

  • SKrei7th December, 2007

    This is for someone in foreclosure. Yes, they are 3 months behind on mtg and credit is ruined; short sale failed.
    At this point if they return the property what shows on credit? I am sure its bad but not as bad as a foreclosure? Or at this point the credit is so damaged that it does not matter!

  • SKrei7th December, 2007

    This is for someone in foreclosure. Yes, they are 3 months behind on mtg and credit is ruined; short sale failed.
    At this point if they return the property what shows on credit? I am sure its bad but not as bad as a foreclosure? Or at this point the credit is so damaged that it does not matter!

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