Legal Question in Credit and Debt Law in Florida

Re: foreclosure and credit consequence

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

As a general rule, seven years is the timeframe most credit companies will say. Instead of this, why not try to work out some alternative arrangements with the lender such as a deed in lieu of foreclosure which is a voluntary deeding of the property to the lender to avoid foreclosure?

Scott R. Jay, Esq.