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Credit Reports
Types of Credit Reports:
-Single
-3-in-1
-Credit Monitoring System
-Free Credit Report
Credit
Report Basics:
-Ordering
a Report Yearly
-Common
Questions
-Determining
Scores
-Interpreting Reports
-Disputing
Errors
--more
basics
Credit Achieving Tips:
-Improving
Credit Scores
-Building Credit
-Re-building
Credit
Identity Theft
Mortgages
Auto Loans
Personal Loans
Debt Consolidation
Credit Cards
Home
-Taxes
-Managing Money
-Credit Help
-Checking Accounts |
FORECLOSURE
A foreclosure is another major event that is
currently influencing an increasing number of homeowners
and one that will have a damaging impact on credit
scores for many years. How impacting will depend on the
individual or agency examining it. However, by the time
your home is foreclosed upon, your payment history will
have already taken a momentous jolt, so it's doubly
impacting.
Lenders are aware that foreclosure is costly and utilize
it as a last resort for a solution. A good idea would be
to stay in close contact with your lender if you find
yourself in extreme financial straits. They will
typically look to work with you, by either developing
some sort of payment schedule or forbearing your
mortgage loan while you attempt to sell your home.
When it comes to your employer or a potential employer
seeing that you have a foreclosure on your credit
report, you will know when they do being that you have
to allow their check of your credit report.
Advice: Be proactive with your lender prior to
foreclosure and with banks following the foreclosure.
Similar with bankruptcy, you can attempt to add a
statement to your credit report. However, time is the
only way to heal a foreclosure's impact on your score.
Credit Score Blunders
-Account
in Collections
-Court
Judgements
-Foreclosure
-Bankruptcy
-Too
Much Debt
-Late
Payments
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