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How does a foreclosure that has been stopped compare to the foreclosure actually going through on your credit report?
Wiki User
∙ 15y ago
It depends on how soon you stopped it. If a foreclosure is stopped after three missed payments, then It may only show up as a 90 day late. This can be recovered from fairly quickly, as long as the rest of your payments were on time. If the home is actually foreclosed on, it will show as a foreclosure on the trade line and in the public record section.
The best way to see how it effects your credit is to get a copy of your report. You can probably get a free copy from one (or all) of the three credit bureaus.
Experian
Equifax
Trans Union
Wiki User
∙ 15y ago
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If your house was in foreclosure what would be your greatest need?
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
What is the meaning of good through date for foreclosure?
It means that the offer is good until the foreclosure date. This means that the offer cannot be redeemed after that date.
How many payments can be missed before foreclosure begins?
went through that myself its 3
How does foreclosure work?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
What is foreclosure help?
Foreclosure help is advice and help you can get from an organization or service that will help you through a foreclosure or help you stop a foreclosure. Foreclosure Help and Hope is an organization that can help.
Where can I access a local foreclosure list?
A local foreclosure list can be obtained through your local real estate agent. You can also get them through web site such as, www.fanniemae.com or www.hud.gov.
Should I buy a foreclosure from a bank?
The only way to buy a foreclosure is through the bank. If you want to save money you can try to pay in cash.
If your house was in foreclosure what would be your greatest need?
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
What is the meaning of good through date for foreclosure?
It means that the offer is good until the foreclosure date. This means that the offer cannot be redeemed after that date.
What is the purpose of mls online?
The purpose for the end user is to search through new and sold homes, foreclosure listings, as well as compare them and connect with the sellers. They will generally do this in order to empower themselves to better serve their real estate interests.
What stage in a foreclosure is there a time that the foreclosure cannot be stopped?
Foreclosures are either judicial or non-judicial foreclosures. In a judicial foreclosure, the lender obtains an order for foreclosure and sells the home through a Sheriff's auction. In a non-judicial foreclosure, the lender takes over the home and sells in through public auction. The earlier you begin your negotiations with the lender, the greater your chances of stopping foreclosure. There are many options for stopping foreclosure - loan modification, assumptions, short sale, etc. Once the notice of sale is issued, you can still stop the foreclosure by paying the default amount. Once the sale is complete, you cannot stop the foreclosure. The foreclosure is complete. However depending on your state law you may redeem the home by paying the new owner. Legal Disclaimer: The answer above should not be relied upon as legal advice. The information provided above is based on insufficient facts and only speaks to a general opinion based on those insufficient facts. No warranty is provided that the answer is correct. No attorney-client relationship has been formed with me until a signed written contract is complete. For an official opinion, it is advised you seek legal counsel.
What are the foreclosure laws in New Jersey?
At least 30 days before starting the foreclosure process, the lender mails a letter to the borrower warning of the impending foreclosure. During this pre-foreclosure period, the borrower can prevent the foreclosure by paying off the amount in default. The lender initiates the foreclosure through the courts and records a lis pendens (notice of pending lawsuit) with the county clerk. The lender can sue for either the default payments or the entire unpaid principal balance on the loan. The borrower is notified of the foreclosure action in person or by publication if necessary. After being notified, the borrower has at least 35 days to respond or the court will make a ruling. If the court rules against the borrower, a sale date will be scheduled. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
How many payments can be missed before foreclosure begins?
went through that myself its 3
How can I find upcoming Foreclosure Auctions?
This information can be obtain through the local newspaper or the county courthouse.
How does foreclosure work?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
