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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: voluntary foreclosure Posted by Jerry - Ca. on October 11, 2006 at 2:09 PM In Reply to: voluntary foreclosure posted by nancy hoose on October 10, 2006 at 5:43 AM : My husband and I are in process of divorce. I am in a position such that I have to pay rent on a house for me and my daughter, as well as the mortgage on our house (my husband refuses to help). My friends advise me to do a voluntary foreclosure, claiming that it wouldn't hurt my credit (which is very good). I have a bad feeling that even if this is true, it would probably affect my ability to obtain a home loan in the future. Is this the case? I live in georgia, and am having difficulty finding information on this subject. Nancy: To answer your question ... you got BAD advice from your friends! A Deed-in-Lieu of Foreclosure or a Foreclosure will absolutely impact your credit negatively and affect your buying another home for years to come! Jerry Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : My husband and I are in process of divorce. I am in a position such that I have to pay rent on a house for me and my daughter, as well as the mortgage on our house (my husband refuses to help). My friends advise me to do a voluntary foreclosure, claiming that it wouldn't hurt my credit (which is very good). I have a bad feeling that even if this is true, it would probably affect my ability to obtain a home loan in the future. Is this the case? I live in georgia, and am having difficulty finding information on this subject. : Nancy: : To answer your question ... you got BAD advice from your friends! A Deed-in-Lieu of Foreclosure or a Foreclosure will absolutely impact your credit negatively and affect your buying another home for years to come! : Jerry Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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