gn you got it… If the lender says, hey give us the keys and agree to a deed in liue of foreclosure and we will agree to reduce the severity of what we report to the credit agency then it may indeed be a preferable alternative. The “knock” on the credit record is something that I cannot give good advice on because I am not an expert on that. However yes you are on the right track as to why that may be a better alternative for the homeowner.
