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tataluvstato

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Unable to sell my home, what is the impact on my credit score of giving it back to the bank
I moved from Puerto Rico to New York with a relocation from my job. I'm renting now in NY and don't have any plans to buy a home in the US but I own an apartment in Puerto Rico which hasn't sold yet.
1. What is the impact in my credit score if I give the apartment back to the Bank since I can't afford to pay 2 housing rents (PR and US).
2. What will be the implications in the future? Could I rent another apartment in US or will my credit won't allow me to do it?
Thanks.

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See if you lender is willing to do a Deed in Lieu of Foreclosure instead of them going to the expense of full foreclosure.  It will still hurt your credit, but only for 5 years instead of 7.  This will hurt your chances of another apartment for a while, but after a year or two it shouldn't be too bad.  Don't see where you have much choice in the matter, unless you can find someone in PR to assume your current mortgage.  Best of luck!

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