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R9 is the code for foreclosure and write-off as uncollectable for any credit account...this code in any credit profile will send a credit score down low, usually to the 600 level which is usually unacceptable for any further new loans....Word of advice, on any current accounts that you do have at that point in time, keep your payments current and depending on that companies relationship with you, you may be able to keep that account open (like a credit card). however, once a credit profile gets one R9 code, the computer that figures these scores will assign more higher numbers for scores at the earliest opportunity for any further delinquencies. a perfect score of accounts for all credit cards and mortgages, as well as any other accounts will show R1 across the board.

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How many points will a foreclosure reduce your credit score?

Depends on credit score prior to foreclosure. If your score was higher before foreclosure, it might drop 200 points or so. If it was lower before foreclosure, it might drop closer to 100 points. It varies significantly.


How many points does your credit score go down if you miss a mortgage payment?

A recent late payment can drop your credit score about 60 points.


How many points does your credit score drop after a collection?

While there's no definitive answer with respect to how many points your credit score may drop after a collection, a collection account is a clear indication that a loan, credit card or retail card was not repaid and payment history is one major contributing factor to your credit score. This can have a negative impact on your credit score.


How many points will a fico score drop for a charge off?

There is no direct amount of points that your score will drop. It is all based on your previous credit rating, the timeframe of last negative mark on your credit, the amount of time since charge off, and the amount of credit you have and how its has been handled.


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.


If foreclosure becomes definite what will happen to your credit?

your credit rating will drop


Will your credit score drop is your spouse removes you?

yes because points would get tooken off


How many points will credit score drop with repo?

points don't matter, you will have "repossession" on your record which will turn a creditor away.


How many points will your credit score drop from paying your mortgage late?

No one really knows how many points your credit sore will drop in this case. There are many variable to this matter. No one really knows how many points your credit sore will drop in this case. There are many variable to this matter. No one really knows how many points your credit sore will drop in this case. There are many variable to this matter.


How does a derogatory mark affect credit score in points over a year?

I check my friend's credit score monthly as I manage her finance for her. Addition of 1 derogatory mark (account went to collections and got reported to the TransUnion) resulted in a whopping 27 points drop in credit score. Next month the score went up by 13 points and a month after that by another 10 points. Third month after derogatory mark appearing on the credit report, the the score is 4 points lower than it was prior to getting the mark.


How much does your credit score drop when a foreclosure is added?

Information about the specifics of credit scoring is largely emphirical and based on trial and error. The Fair-Isaac company, who pioneered credit scoring, is very secretive about the exact working of their software. In addition, credit scores compute ALL the information showing in your credit report each time it is calculated. Changes in your debt to available credit, other derogatory information (like late payments and collection accounts) and when these things occured are taken into account. History, specifically what has taken place in the last twelve months, is factored a full 35%. So if the foreclosure was within that time period and was removed, your score would recover a significant amount of points. If the foreclosure was older, it would not impact your credit score nearly as much.


How many points will your credit score drop if you go over your credit limit?

Make sure that you stay below 30% of the credit limit if you want to have a decent credit score. There is a scoring module that Credit Reporting Agencies go by that we as the consumers don't know about. I will tell from experience that your score could decrease anywhere from 10 - 20 points from each bureau that your account is being reported with.