Updated over 10 years ago on . Most recent reply
Deed in lieu impact on new loan qualification
A friend of mine recently handed a portfolio of rental properties back to the seller on a deed in lieu. The properties were seller financed, non-recourse and not personally guarantied. The buyer was current on the loan up to the time he handed them back.
His credit is near perfect and has a high paying W2 job. Should this deed in lieu have an impact on his ability to get a traditional bank loan for his own home?