I don't think anyone will be ready for that.So its better that you can take a way or option where you house will be save from foreclosure.Filing bankruptcy is the very right option for this.Once you file chapter 7 bankruptcy or chapter 13 bankruptcy bankruptcy law has a provision called stop foreclosure and it goes in to the effect immediately after you file the bankruptcy.This way you can save you house and other important stuff.
Sure; the problem in such a case would be getting a mortgage to buy a house, not selling a house.
yes
Credit Report - If you've ever applied for a credit card, loan, insurance, or a job, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a credit report. Banks and other companies use your credit report to assess your credit worthiness. So at times when an individual has been turned down for a loan or credit it is the information held in the credit report which is an issue. In other circumstances, credit reports also also used in getting the capacity of an individual to pay their mortgage credit or any other type of loan. Even when an individual has a poor credit report, he/she can still improve it by paying his/her debts and settling payments and other important credits. Credit report is a snapshot of everything you have ever done in your life that has involved your use of credit. Try to visit Simple Credit Online for more advise.
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report. I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
Yes. In the United States, if you are denied credit, you can demand to see a copy of the credit report that caused you to be denied. HOWEVER, anybody can get a free copy of your credit report EACH YEAR, from EACH credit reporting agency. So you can get a free copy of your credit report every 4 months. Go to "annualcreditreport.com", pick one of the three credit reporting agencies (TransUnion, Equifax, and Experian) and start the application. I recommend that everybody make it a point to monitor your credit report every 4 months. I've set an annual reminder so that I can be sure to request my credit report regularly. DO NOT simply search for "free credit report" on search engines; most of those sites will try to sell you a credit monitoring service for $15 bucks a year, for nothing more than you can get REALLY for free. The only interesting thing that isn't included in your free annual credit report will be your "FICO Score", which is sort of the bottom line number that car dealers or mortgage lenders use to determine if you're credit worthy. (FICO, or "Fair Isaacs Credit Organization", determined some of the original guidelines for credit worthiness.)
Sure; the problem in such a case would be getting a mortgage to buy a house, not selling a house.
Your credit score is determined from the data on your credit report. Most credit reporting sites sell or give away for free a credit score with your credit report. Some site only give away a credit score. So, the answer to your question is, yes, your score generally comes with your credit report but it is not always included.
yes
Only on your CREDIT REPORT. DMV doesnt care how you got it or got rid off it, as long as ya dont steal it or sell before ya pay for it.
Credit Report - If you've ever applied for a credit card, loan, insurance, or a job, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a credit report. Banks and other companies use your credit report to assess your credit worthiness. So at times when an individual has been turned down for a loan or credit it is the information held in the credit report which is an issue. In other circumstances, credit reports also also used in getting the capacity of an individual to pay their mortgage credit or any other type of loan. Even when an individual has a poor credit report, he/she can still improve it by paying his/her debts and settling payments and other important credits. Credit report is a snapshot of everything you have ever done in your life that has involved your use of credit. Try to visit Simple Credit Online for more advise.
A consumer credit report is a record of your credit history. It shows lenders how you have managed your credit in the past, and it helps them decide whether to lend you money and how much interest to charge you. A consumer credit report includes information about your: Credit accounts, such as credit cards, loans, and mortgages Payment history, including how often you have paid your bills on time Amounts owed Length of credit history Types of credit Public records, such as bankruptcies and liens Your credit report is compiled by credit bureaus, which are private companies that collect and sell credit information. In the United States, there are three major credit bureaus: Equifax, Experian, and TransUnion. It is important to review your credit report regularly to check for errors. If you find any errors, you should dispute them with the credit bureau. Your credit report can have a big impact on your ability to get loans, so it is important to keep it accurate and up-to-date. By understanding your credit report, you can make informed decisions about your finances and improve your credit score. Here are some of the things you can do to improve your credit score: Pay your bills on time. This is the most important factor in determining your credit score. Keep your credit utilization low. This is the percentage of your available credit that you are using. Aim to keep your credit utilization below 30%. Don't close old accounts. Closing old accounts can lower your average age of accounts, which can hurt your credit score. Dispute any errors on your credit report. If you find any errors on your credit report, dispute them with the credit bureau.
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report. I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
Yes. In the United States, if you are denied credit, you can demand to see a copy of the credit report that caused you to be denied. HOWEVER, anybody can get a free copy of your credit report EACH YEAR, from EACH credit reporting agency. So you can get a free copy of your credit report every 4 months. Go to "annualcreditreport.com", pick one of the three credit reporting agencies (TransUnion, Equifax, and Experian) and start the application. I recommend that everybody make it a point to monitor your credit report every 4 months. I've set an annual reminder so that I can be sure to request my credit report regularly. DO NOT simply search for "free credit report" on search engines; most of those sites will try to sell you a credit monitoring service for $15 bucks a year, for nothing more than you can get REALLY for free. The only interesting thing that isn't included in your free annual credit report will be your "FICO Score", which is sort of the bottom line number that car dealers or mortgage lenders use to determine if you're credit worthy. (FICO, or "Fair Isaacs Credit Organization", determined some of the original guidelines for credit worthiness.)
They are or will be the same. All institutions who do a charge off sell the paper to a collection company so they are or will be the same.
seven years
It will show on your credit report where your bank loan was "Charged Off". This means the bank wrote off the money and gave up on collecting it. However they can sell that debt to a collection agency to try and collect it. It will show on your credit report for 7 years.