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Will a foreclosure from someone's past affect their spouse's credit?
Wiki User
∙ 15y ago
I hate to sound like a lawyer, but it depends. If you have separate credit reporting accounts, it may affect the wife's credit slightly. If there is only a joint credit account, yes, it will affect the wife's credit the same as the husband's.
You can ask the 3 major credit reporting agencies (Experian, TransUnion and Equifax) to separate out your credit histories. If the foreclosure has already started, it may be too late. Get a free credit report from each (once each year) at www.annualcreditreport.com.
Wiki User
∙ 15y ago
Wiki User
∙ 15y agoWill my future wife's forclosure effect me?
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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.
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.
What happens to your credit on a short sale?
A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.
How does foreclosure affect credit?
Your credit will be affected negatively with a possibility of your credit score dropping 200 or more points. Not sure if you are in foreclosure now but if you are not make sure to communicate with your banks regarding your situation to prepare for other options and at least the banks will be aware.
How long does a foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
How long does a foreclosure stay on your credit report and affect it?
7 years + 180 days from date of first delinquency.
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.
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
How long does foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
How will a foreclosure affect your credit?
Foreclosure is a very damaging entry on a CR, and will cause problems if the person tries to obtain credit (especially another mortgage), in the future. Foreclosures remain on a CR for seven (7) years. Here is an interesting article I read just today on this topic. Here have a look: http://www.mortgagetonight.com/2009/01/how-foreclosure-affects-credit/
How many points does foreclosure decrease your credit score?
how many points dose foreclosure decrease your credit score
How long is your credit affected after a foreclosure?
Usually a foreclosure will lower a person's credit score by 250 points, and sometimes by as many as 280 points. The foreclosure stays on a person's credit report for seven years.
