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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Without verification, I have been advised multiple times that a deed-in-lieu is a negative hit on a debtor’s credit rating similar to a bankruptcy filing except it stays
on the debtor’s credit report for one year less than a bankruptcy. I treat a deed-in-lieu as a negative hit to the debtor’s credit rating as a legitimate concern to a debtor.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Times New Roman",serif">IMPORTANT NOTICE: This e-mail message is intended to be received only by persons entitled to receive the confidential information it may contain. E-mail messages to clients
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Patrick J. Sullivan<br>
<b>Sent:</b> Thursday, March 15, 2018 10:44 AM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] Deed in Lieu Q<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black">Hi everyone:<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black">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?<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black">Thanks.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif;color:black">Regards,<o:p></o:p></span></p>
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<p class="MsoNormal" align="center" style="text-align:center"><b><span style="font-size:18.0pt;font-family:"Palatino Linotype",serif;color:#007439">Patrick J. Sullivan<br>
</span></b><span style="font-size:7.5pt;font-family:"Palatino Linotype",serif"><a href="https://nam04.safelinks.protection.outlook.com/?url=http%3A%2F%2Fsullivanlawfirm.org%2F&data=02%7C01%7C%7C8a9fcdc6f41c4a856b6c08d58a9d231f%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636567329857160780&sdata=46X%2B9l6p0syCaddbI1Ex3j2aNHX0GEbo5EHS742GZpg%3D&reserved=0" target="_blank"><span style="text-decoration:none"><img border="0" id="_x0000_i1025" src="https://goo.gl/GqbM6I" alt="The Sullivan Law Firm"></span></a><br>
</span><span style="font-size:7.5pt;font-family:"Book Antiqua",serif;color:#5F6462;text-transform:uppercase">701 Fifth Avenue, Suite 4600
<br>
Seattle, Washington 98104<br>
</span><b><span style="font-size:12.0pt;font-family:"Palatino Linotype",serif;color:#007439">P:</span></b><span style="font-size:10.0pt;font-family:"Palatino Linotype",serif;color:#373A38"> <span class="gc-cs-link">(206) 903-0504</span></span><span style="font-size:12.0pt;font-family:"Palatino Linotype",serif;color:#373A38"> | </span><b><span style="font-size:12.0pt;font-family:"Palatino Linotype",serif;color:#007439">F:</span></b><span style="font-size:10.0pt;font-family:"Palatino Linotype",serif;color:#373A38"> <span class="gc-cs-link">(206)
260-2060</span></span><span style="font-size:7.5pt;font-family:"Palatino Linotype",serif"><o:p></o:p></span></p>
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