deed lieu foreclosure process
I filed Chapter 7 last week- should I stay in my home and get foreclosed or agree to a deed in lieu of?
I have been unemployed for the last 6 months. I currently own a home that is 3 months behind on the mortgage. My mortgage company has NOT started the foreclosure process on me yet. They are willing to do a deed in lieu of foreclosure. Is it best for me, knowing that I have already filed for Ch. 7, to stay in the home as long as possible or agree to the deed in lieu of foreclosure? If you have a Ch. 7 and a foreclosure on your credit report — does it make your score worse? I really need help in knowing if I should leave or if I should try to stay in the home as long as possible. Thanks.
Deed in lieu is generally the best way to go; but at this point, it’s up to the judge not you.
