Not really. According to local mortgage originators, your credit score will be lowered by approximately 280 points either way. A deed-in-lieu of foreclosure can be a better option because the agreement will typically stipulate that the bank will not seek a deficiency judgment against you. That is not true of a “regular” foreclosure, in which case a judgment can be obtained against you. According to our attorney, a default judgment against you in Florida can be kept alive forup to 20 years!