ANSWERS: 4
  • pretty badly, i don't have estimates, nor are you prividing me with enough information, but it'll hurt a lot
  • In a nut shell, If you don't pay your bills they classify you as a stiff who doesn't pay up and it will be a blemish on your credit...Nothing is for nothing
  • A forclosure or a deed in lieu of forclosure (where the buyer hands over the deed to the property for satisfaction of the mortgage) both affect your credit pretty badly, 250-280 points on your credit score, and it stays on your credit report for at least 7 years, sometimes as long as 10. A short sale is when you sell the house on the open market and the lender (the bank) takes an amount that is less than what is owed. However - you could have a judgment placed on you for the difference of the payoffs. A short sale affects your credit badly also - but not nearly as bad "only" 80-100 points on your credit score. All in all - the bank DOES NOT want your house, they will make every effort to avoid forclosure so call your bank and ask if you could do a loan restructure, or maybe they can offer you a peroid of forbearance. Best wishes!
  • does a foreclosure on a timeshare have the same affect on your credit as a foreclosure on a house?

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