After a foreclosure till when the creditor can ahrrass for payments?
Jul 28, 2009 in
Financial and Loan Tips
Fast Pace
People tell actually you can still buy cars and other house because is so many foreclosures now… What happen to our credit report after getting a foreclosure, how many points it will drop on the credit score? Thanks
People tell actually you can still buy cars and other house because is so many foreclosures now… What happen to our credit report after getting a foreclosure, how many points it will drop on the credit score? Thanks
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2 comments
Real Estate Guy on July 30, 2009 at 6:42 am
forget the “fact” that there are to many foreclosures that the bank will not report you. THIS IS FALSE. It’s all done by computers.
NO you can’t buy cars, etc. Your credit score will drop by at least 200 points.
Plus the bank will get a judgment against you for their loss and the IRS will tax you on this loss.
Landlord on August 2, 2009 at 3:46 am
It is usually 260 points.