I'M GOING TO WALK AWAY FROM MY HAYWARD HOME--HOW DOES FORECLOSURE AFFECT MY CREDIT?
By Kevin Dwyer
(Sellstate Next Generation)
I'M GOING TO WALK AWAY FROM MY HAYWARD HOME--HOW DOES FORECLOSURE AFFECT MY CREDIT? In case you do not know the effects of foreclosure on your credit, here are a few: •1. A foreclosure listed on your credit report is virtually impossible to get repaired. It will most likely be a permanent mark on your personal credit history. •2. The impact to your credit score will be significant. Sometimes up to 300 points. This will be devastating to all your future credit inquiries. INCLUDING CAR LOANS, CREDIT CARDS AND MEDICAL. •3. In the future, if you apply for a mortgage, you will be required to disclose a previous foreclosure. This will cause any future mortgage rates to be significantly higher. •4. Some companies run random credit checks on their current employees. If they find a f...
Comments
0