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Your house is in forclosure, this means you do not pay your mortgage. Unlikely a bank would take such a risk!

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โˆ™ 2006-04-08 22:01:49
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Q: Can you get a refinance loan with a credit score of 400 if your house is in foreclosure?
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What is the credit score has to be to refinance?


How many points does foreclosure decrease your credit score?

how many points dose foreclosure decrease your credit score

How long after foreclosure can you buy a house but your credit score are more than 740?

Ask your lender

How long will a foreclosure be on your credit report and how will it effect your credit score?

A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.

How many points will a foreclosure reduce your credit score?

Depends on credit score prior to foreclosure. If your score was higher before foreclosure, it might drop 200 points or so. If it was lower before foreclosure, it might drop closer to 100 points. It varies significantly.

Can you buy a house with a 740 credit score even though you have foreclosure a few years ago?

Ask your lender.

If my credit score was 750 after a foreclosure why is it?

Either the foreclosure is not reporting for some reason, or you were not on the loan. Many married couples share an ownership interest in the house but do not share legal liability for the mortgage. Immediately after a foreclosure is reported you should not have a 750 score.

How does surrendering your house in chapter 7 affect your credit report?

If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.

How does foreclosure impact my credit score?

Foreclosure can have a drastic effect on your credit score. Your credit rating decreases with missed payments on your home, as well as other bills. In addition, the foreclosure itself can lower your score by over 100 points. In addition, a foreclosure can stay on your record for seven to ten years. Forclosure can and will have a very negative impact on your credit score. This is an unfortunate by product of the recent economic crisis.

How long is your credit affected after a foreclosure?

Usually a foreclosure will lower a person's credit score by 250 points, and sometimes by as many as 280 points. The foreclosure stays on a person's credit report for seven years.

Can you buy another house and let the one you are in go through foreclosure?

Yes. Note that your credit score would be adversely affected.

Can you buy a house with a 630 credit score a foreclosure and a bankruptcy 2 years ago?

It depends on who you're asking for a loan. But, maybe.

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