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If your house is under your husbands name and it is in foreclosure will it effect your credit score?
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Can you buy a house if you have a foreclosure on your credit?
you must restore your credit.
Is a deed in lieu of foreclosure better than a foreclosure on your credit report?
Yes. Answer {| |- | This is where you are unable to pay for the house and you voluntarily give the house back to the lender. This is subject to a deficiency judgment yet counts as a "less serious" foreclosure on your credit. However, you lose your greatest asset, your home. |}
Are you responsible to pay the mortgage after foreclosure?
No. The bank owns the house after foreclosure. But your credit report will take years to fix. Good luck.
If your house was included in your bankruptcy can they also mark a foreclosure on your credit it you let the house go?
Yes, unless you bargain for a deed in lieu of foreclosure, Basic- if bank forcloses, its on your record.
How long after foreclosure can you buy a house but your credit score are more than 740?
Ask your lender
What if you are a co signer on a house that is in foreclosure?
The lender can go after you for any deficiencies and the foreclosure will be reported on your credit record. As a co-signer you are equally responsible for paying the mortgage.
In Florida can you have a home equity line of credit and still file a deed in lieu of foreclosure?
You will not be able to keep your home equity line of credit if your house is in foreclosure or anything similar to it. This is standard across the United States.
What happens to your credit if your house was foreclosed?
It depends on how a mortgagee's credit was before the foreclosure, but a drop of several hundred points is common. Foreclosure makes its greatest impact for the first three or four years and remains on a report for seven.
Is it possible to buy a house if you've already had a foreclosure?
Yes, you can. If you show good credit worthiness after foreclosure. Usually two years after. With at least 3 new accounts and with 1 account with a credit limit above $3,000.00.
What can you do if your husband had a foreclosure immediately prior to your marriage and you now want to buy a house and are having trouble?
First, buy the house in your name not your husbands. Do not have his name anywhere on the title and be sure he signs the waiver that says he has nothing to do with the deed or property. So, use only your credit. As long as all is in your name with only you responsible for making payments his bad credit will have no impact on your home loan.
Can you buy a house with a 740 credit score even though you have foreclosure a few years ago?
Ask your lender.
What happens if you are a cosigner on a house that is being foreclosed on?
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
