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If I have a foreclosure on my credit will it affect me in trying to buy real estate?
Wiki User
∙ 15y ago
If you are paying cash, NO. If you are financing it with a bank loan, usually it will. Depends on how long ago the foreclosure occured and the individual policies of the bank you are trying to get a loan from.
Wiki User
∙ 15y ago
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How does a 30-day late payment on a mortgage affect your credit?
If you are trying to refinance your mortgage... it will affect the interest rate. (it will be higher) It will haunt you for at least 12 - 24 months.
Does your bad credit affect your husband if he has good credit?
Actually I think that the only way it can hurt him in any ways is if you are trying to fial joint to like buy a car or a house or such.
What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
Can a judgment affect your student loan?
if you are the student trying to get a Stafford, Perkins subsidized or unsubsidized loan no, but parents trying to get a parent plus loan it will because these types of loans are credit based loans. if you are trying to get a personal loan from a lending institution ie. wachovia, Sallie Mae etc. then yes a judgment will affect you.
How may missed mortgages payment until you are in foreclosure?
Mortgages can be written with a lot of different terms and laws, especially real-estate laws, vary greatly state to state. State law also dictates the actual process of foreclosure. Foreclosure doesn't happen when you miss x number of payments. Foreclosure is the legal process of the bank or lender trying to take away your legal right to lay claim to any equity you have accumulated in your home. They do this so that, if and when they have to repossess your home, they don't have any problems trying to sell if because you still have a financial claim to the property. Foreclosure happens when you default and a bank decides they need to foreclose so they can then evict you and resell the house. If you are missing payments on your mortgage, you need to talk to your bank/lender and talk about what's going on. Banks do not like to have to go through all the work to foreclose, evict, and sell a home. But, if you are missing payments, you need to talk to someone to figure out what the options are and which option is best for you.
can you buy a foreclosure with bad credit.?
If you nave all cash to pay for the foreclosure, and you are not trying to finance any part of the cost of it, then yes you can.
How does a 30-day late payment on a mortgage affect your credit?
If you are trying to refinance your mortgage... it will affect the interest rate. (it will be higher) It will haunt you for at least 12 - 24 months.
Does your bad credit affect your husband if he has good credit?
Actually I think that the only way it can hurt him in any ways is if you are trying to fial joint to like buy a car or a house or such.
What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
If you deposit a check in your checking account and it bounces does it affect you credit?
i dont think soo it starts affecting you if the company you gave the check to starts trying to collect from you then it might affect it. if your account got charged a issuffisiant funds fee and its negative and you dont take care of it it will go to collections and affect your credit as well.
Can a judgment affect your student loan?
if you are the student trying to get a Stafford, Perkins subsidized or unsubsidized loan no, but parents trying to get a parent plus loan it will because these types of loans are credit based loans. if you are trying to get a personal loan from a lending institution ie. wachovia, Sallie Mae etc. then yes a judgment will affect you.
What are the legal ways to stop foreclosure quickly?
You can first get in writing from the bank that they are agreeable to stop the foreclosing process. Once you are armed with this information you can present it to the process servers who are trying to begin the foreclosure proedure.
How may missed mortgages payment until you are in foreclosure?
Mortgages can be written with a lot of different terms and laws, especially real-estate laws, vary greatly state to state. State law also dictates the actual process of foreclosure. Foreclosure doesn't happen when you miss x number of payments. Foreclosure is the legal process of the bank or lender trying to take away your legal right to lay claim to any equity you have accumulated in your home. They do this so that, if and when they have to repossess your home, they don't have any problems trying to sell if because you still have a financial claim to the property. Foreclosure happens when you default and a bank decides they need to foreclose so they can then evict you and resell the house. If you are missing payments on your mortgage, you need to talk to your bank/lender and talk about what's going on. Banks do not like to have to go through all the work to foreclose, evict, and sell a home. But, if you are missing payments, you need to talk to someone to figure out what the options are and which option is best for you.
Does Home Depot report business credit to credit bureau?
does home depot report to credit bureaus? I am trying to rebuild my credit.
How can the states influence the policies of the federal government?
By trying out policies that might later affect the entire nation
Would keeping a zero balance on a new credit card for a long period of time negatively affect your credit score?
Not in and of itself. But credit scores are calculated based on ALL the information showing in a consumer's credit file, not just a single account. This account, in relation to others on your report, may affect the overall calculation in ways not addressed in your question. That is the problem with trying to guesstimate the impact of one small piece of data when the score is factored from the whole.
Can you buy a foreclosed home with no money down and poor credit?
Unlikely. Sorry to have to say that because by the nature of your asking the question, I suspect you are wanting to make money by buying real estate foreclosures. At least here in Texas, when you are buying a house at a foreclosure auction, who pay for the house right there at the sale - cash or cashiers check. That is not quite 0 down. The people who tout make money with no money down are telling you to leverage or borrow from family members to get the money. You are just delaying the risk or spreading it around then. I have made money in real estate, but not in foreclosures. I invest and work with several businesses. I have a few articles that speak to these as well as my foreclosure experiences. I spent a year trying to buy foreclosed homes and gave it up because I could not find a deal that made sense.
