[WSBARP] Deed in Lieu Q

[Patrick J. Sullivan]

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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