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Rebuilding Your Credit After Foreclosure of Your Greenville NC Home
If you recently lost your Greenville NC home to foreclosure and aren’t sure of where to go from here, don’t despair. Because of the high number of foreclosures, final experts are writing many advice articles about how to rebuild your credit and recover from your loss. All agree that the first step in the rebuilding process is to settle any remaining debts you may have--attorney fees, credit card debt, and the like. Rank these payments according to their interest rates. Start paying off the most expensive loans first. .Do not, of course, ignore the minimum payments required by your other loans but do not aggressively try to pay down the balances until your most expensive loans are paid off.
Evaluate the cause of the foreclosure.
Solving a problem is easier when you know the cause of the problem. You'll have an easier time repairing your credit post-foreclosure if you understand what caused you to foreclose. What could you have done something differently? Perhaps chosen a different mortgage for your Greenville NC home? Managed your money better? Understanding why the foreclosure happened can help you prevent it from happening again.
Adjust your spending habits.
If you haven’t been budgeting your income, start ... more

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