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We’re headed towards divorce and living in a house that’s upside down. Neither one of us will be able to afford the house once we split and these houses are not selling. I have a good job, just need to live a more modest life-style, but can’t really make a fresh start before I get this house sold.
Question Is it better to try and go with a deed in lieu of foreclosure, or to declare bancruptcy. Do I need a lawyer to do the deed in lieu of forcelosure? How long does it take for your credit to recover from each situation?