[WSBARP] Deed in Lieu Q
Patrick J. Sullivan
p.sullivan at sullivanlawfirm.org
Thu Mar 15 10:43:50 PDT 2018
Hi everyone:
I have a builder client dealing with a proposed deed in lieu. I am
concerned about the impact of accepting a deed in lieu on the client's
ability to obtain credit in the future. I vaguely recall that lenders
typically ask potential borrowers whether they or any entity controlled by
them has been involved in a deed in lieu transaction. Obviously, this
would be viewed disfavorably by future lenders. Is this a legitimate
concern or much ado about nothing?
Thanks.
Regards,
Patrick J. Sullivan
[image: The Sullivan Law Firm] <http://sullivanlawfirm.org/>
701 Fifth Avenue, Suite 4600
Seattle, Washington 98104
P: (206) 903-0504 | F: (206) 260-2060
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