How bad will a foreclosure hurt my credit??

A foreclosure would drop ur credit score. Should u want to purchase a car, get a credit card, or even buy another home it would make ur chances of doing that slim. And if u did get credit ur interest rate would be rather high.

And something else - ur chances of getting a job in the future could be hurt. More & more, employers r using credit as part of the decision making process in hiring & promoting.

If ur home has been for sale for 2 years, I would suggest speaking with ur Realtor about doing a short-sale. I would also speak to ur lender or have ur Realtor do that for u to see if u can start the short sale process in advance to make ur home more attractive to buyers.

If u have any other questions, u can always contact me through my website tntsellhomes.com

Thanks - I know this is a frustrating time for home sellers & owners.

Tamara

Can u stop foreclosure? Can u save ur home?

Why pay hundreds of dollars for programs that give u only one option - walking away from ur home?

Did u know there r at least five other options available to any homeowner? Did u know that these five options may be available to u whether or not u r having a hard time paying ur mortgage, r behind one or more payments, r in default, or even r in foreclose? Did u know walking away may be the worst option u could pick? Especially if u have not explored the other options u have first? Where can u get all of the information u need to make an informed choice?

One Place!

The save ur home survival kit comes with:

*Our complete guide to foreclosure
*Our 4 easy to follow worksheets
*A database of knowledge to arm yourself against creditors
*1 year access to our member services, where u can get personalized help & feedback from our team of experts.

It is only $29.95!

With our simple to read & understand booklet & work sheets we will give u the practical tools that will help u decide ur best option. And then guide u through the steps u need to put that option in to action toward saving ur home! You also get a one year membership to our web site with up to date resources, knowledge, advice & information u can use to supplement the written material. Most people just do not know the options they have & if they do they do not know which options they should pursue!

Please do not give up before u have had a chance to try our product! The save ur home survival kit at just $29.95 contains the practical advice, work form sheets, & instant access to member areas on our web site that can help u save ur home from foreclosure! do not walk away before u know ur rights & ur options!

Order now! Shipping is free

http://foreclosureslam.com/?q=stop-foreclosure-save-your-home

Wow! What a completely rude answer! Like it is your fault the market is awful right now, and you had to transfer with your job.

What is the bottom line you can sell your house for? Or have you already tried that?

I would seriously rent it. I'd hate to go into foreclosure.

wow that last answere is just totally unapropriate and downright rude.

Though there is no way to calculate the hit to ur credit score u will show FORECLOSURE for seven years & still owe the bank money & owe property taxes not to mention have all ur existing credit card companies adjust ur rate to the maximum rate.
You bought it by convincing the bank u were mature enough to take the risk & it is not the banks fault u got transferred so, ''man up'' & MAKE IT WORK!
Why should everyone else have to pay for ur inability to keep ur word. that is worse then being on welfare because u like daytime TV.

Major trainwreck.....5-7 years of bad credit and bad scores.

A foreclosure, being a legal action, is a significant derogatory mark. This would show twice on ur credit report. Once as a notation in the tradeline, & then again in the public records section.

The tradeline entry would show all the history on the account & negative data for 7 years, plus 180 days from the last time the account was paid as agreed. The public record would have its is own opening date (the date the foreclosure was filed at the courthouse) & would show for 7 years from the date of the disposition.
sorry wanted to be first heres my answer...
Having any item in the public record section of ur credit report causes all deductions to have a larger impact on the score. Foreclosure is a serious legal action & would indicate great risk to potential future lenders. Most consumers, even when they have trouble with other types of bills, pay their housing & utilities expenses. Lenders tend to look very unfavorably toward anyone who has let those expenses go into collections & lawsuits.