How does a DIL w/Paid as Agreed Hurt my Credit? - Loan Modification Forum

thegoat · 08-05-2009, 01:42 PM

If my attorney was able to convince Aurora to take back my investment condo with a DIL and also get them to agree to mark it "paid as agreed", would there be any negative impact to my credit as I am not 30 days nor have I ever been.

There is some pending litigation that my attorney feels that they may agree to either the DIL or a short sale with a paid as agreed.

Would this still show up as a foreclosure or just a loan that was "paid as agreed".

Thank you.

Marshall Rosenbach Esq. · 08-13-2009, 10:04 AM

I have heard that even a paid as agreed mark damages your credit. The impact on your credit though is beyond my area of expertise. Maybe you can find someone online who specializes in credit bureau reporting.

08-05-2009, 01:42 PM	#1 (permalink)
thegoat Member Join Date: May 2008 Posts: 14 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	How does a DIL w/Paid as Agreed Hurt my Credit? If my attorney was able to convince Aurora to take back my investment condo with a DIL and also get them to agree to mark it "paid as agreed", would there be any negative impact to my credit as I am not 30 days nor have I ever been. There is some pending litigation that my attorney feels that they may agree to either the DIL or a short sale with a paid as agreed. Would this still show up as a foreclosure or just a loan that was "paid as agreed". Thank you.

08-13-2009, 10:04 AM	#2 (permalink)
Marshall Rosenbach Esq. Real Estate & Mortgage Law Attorney Join Date: Jan 2008 Posts: 88 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How does a DIL w/Paid as Agreed Hurt my Credit? I have heard that even a paid as agreed mark damages your credit. The impact on your credit though is beyond my area of expertise. Maybe you can find someone online who specializes in credit bureau reporting. __________________ Law Offices of Marshall E. Rosenbach Please call me anytime at (561) 627-8990 www.FloridaLoanLaw.com The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Licensed to practice law in the states of California & Florida.

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