Escrow & Title
In Arizona, a 'deed in lieu of foreclosure' affects the borrower's credit similar to:
AA standard home sale
BA foreclosure—both significantly damage credit✓ Correct
CA refinance
DA short sale without deficiency
Explanation
A deed in lieu of foreclosure, like a foreclosure and short sale, significantly damages the borrower's credit (typically reported as a foreclosure or deed in lieu). The impact is generally similar to a completed foreclosure.
Related Arizona Escrow & Title Questions
- An owner's title insurance policy in Arizona is typically paid for by:
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