Legal Question in Real Estate Law in Georgia
Quick Deed?
If I Quick Claim my property to the lien holder before my loan is default what will the outcome be? Will a foreclosure be listed on my credit report?
Asked on 5/04/08, 11:25 pm
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: Quick Deed?
There is not a legal document or transaction called a "quick claim." If you mean that you transfer the collateral to the lender, yes it will in all likelihood be reported as about the same as a foreclosure on your credit report (since that it basically what it is).
Answered on 5/05/08, 7:12 am
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