I'M GOING TO WALK AWAY FROM MY SANTA CRUZ 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 foreclosure, this could put your current position in danger depending on your employer and position.
•5. Many companies now include a credit check in their routine background check. If you have an extremely low credit score due to foreclosure, this may jeopardize your chance of future employment. This is especially true in the public sector of government, military and law enforcement.
•6. There is a chance that your lender may seek a judgment against you personally for the money that they lost from your foreclosure. This could mean you could end up owing $100's of thousands dollars depending on the difference between what it sells for vs. how much you owed. Depending on the type of loan you have.
•7. There could be tax implications with the IRS and send you into a spiral of collection judgments.
DON'T WALK AWAY FROM A SANTA CRUZ HOME YOU CAN NO LONGER AFFORD. I CAN SHOW YOU HOW TO STOP FORECLOSURE TO SAVE YOUR CREDIT REPORT AT NO COST TO YOU. STOP YOUR SANTA CRUZ FORECLOSURE AND SAVE YOUR CREDIT BEFO RE IT DOES PERMANENT DAMAGE TO YOUR FAMILY'S FUTURE. I AM YOUR SANTA CRUZ PRE-FOREFLOSURE EXPERT.
Comments (0)Subscribe to CommentsComment