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If your Florida home has a sinkhole can you do a voluntary foreclosure and let the lender deal with it as you no longer live in that state and how will this affect your credit?
Wiki User
∙ 17y ago
I would talk to a Lawyer first to see if it is someone's faught why there is a sinkhole. And check with your neighbor's to see if they are having problems. Or if you let the bank take it then you will be responsible for the difference in what the house is auctioned off for and what you owe on it. Or I would maybe try to sell it as is. That would be your best bet. Now thisis how it is done in Ohio. You might want to check the laws in Florida. Good Luck * There is not such an action as a "voluntary foreclosure". If the lending contract is defaulted and the property abandoned by the borrower the same procedure will apply as if the borrower defaulted unintentionally. Likewise the foreclosure action would be entered on the borrower's credit report and would remain for the required 7 years. As noted, the best option would be to seek legal advice, as trying to sell property that is a potential danger without knowing the legal issues involved would not be advisable.
Wiki User
∙ 17y ago
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If my mother is an authorized user on my credit card and she is currently in the process of foreclosure would her foreclosure as an AU affect your credit?
No, having her listed as an authorized user will have no impact on your credit score.
Does foreclouse affect the spouse credit who is not on the mortgage?
No. A foreclosure affects only the borrower and anyone else who signed the mortgage.No. A foreclosure affects only the borrower and anyone else who signed the mortgage.No. A foreclosure affects only the borrower and anyone else who signed the mortgage.No. A foreclosure affects only the borrower and anyone else who signed the mortgage.
If I have a foreclosure on my credit will it affect me in trying to buy real estate?
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.
Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
How long does a foreclosure stay on your credit report and affect it?
7 years + 180 days from date of first delinquency.
What are the positive and negative effects of a sinkhole?
what are the positive and negative affect of a sinkhole
Can a property with easement can be foreclosure?
The easement does not affect the mortgage. Therefore, the foreclosure can continue.
How does a Deed in Lieu Foreclosure affect Socia security benefits?
A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.
How do sinkhole affects ecosystems?
i think sinkholes affect ecosystem by mass up the hibetr
Does a Deed in lieu of foreclosure affect credit the same as a foreclosure?
Deed in lieu of foreclosure is not nearly as devastating to your credit as is a full foreclosure. Below is an article about the pros and cons of deed in lieu.
Does foreclosure affect us immigration status?
No, foreclosure doesn't affect immigration status. Now, if you commit crimes, then you may jeopardize your potential to become a citizen.
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
How do mountains affect Florida?
they affect florida by not doing anything
Will the oil spill affect Florida?
It will affect Florida, but we need to know how.
How long may a foreclosure judgment affect someone in Minnesota?
usually 7 years
How long does a voluntary repossession affect your credit rating?
7 years.
If my mother is an authorized user on my credit card and she is currently in the process of foreclosure would her foreclosure as an AU affect your credit?
No, having her listed as an authorized user will have no impact on your credit score.
