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My husband and i filed chapter 7 during divorce in 2009...he quick claimed the deed to me...i have not re-affirmed but have been making payments missing a few....i can no longer afford the payment and have been approved for fha loan for a smaller more affordable house....if i do a short sale or deed in lieu will that be reported to credit bureau? i want to be able to buy this house.....or should i just walk away? thanks for your time...

Welcome to the forums!
If you do a short sale or deed in lieu, it will get reported on your credit report. They will also bring your credit score down. I don't think it will be a wise idea to ignore the loan. You can talk to your lender and work out a repayment plan. You can also enroll in a loan modification program to pay off the debt.

Sub: #1 posted on Mon, 01/31/2011 - 02:22

Good Nelly Good Nelly
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