Focus on Finance: Foreclosure and facing a credit predicament

Question: Is there a difference in doing a foreclosure, a short sale or a deed in lieu?

Answer: Many people feel like they’ve been hit in the face when credit problems strike them. On a much larger scale, getting hit in the face is similar to some degree as getting your house foreclosed. 

What would you do if you were faced with similar credit problems? How are you going to handle yourself, how will you help your loved ones, or your credit after the crisis happens?

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