2006-10-25 12:31:17 · 9 answers · asked by AMANTILLADO 2 in Business & Finance ➔ Renting & Real Estate
Yes it show up as soon as it has been through the foreclosure process and it normally takes 1-2 yrs depending on how far the mortgagee is in the process. It stays on your credit report for at least 10 years. I suggest that you sell the property ASAP either by listing it with a Realtor or by auction so the amount owed will be less and maybe you can make arrangement after the sale to repay the remaining balance so you will not have a foreclosure on you credit report..
2006-10-25 12:43:03 · answer #1 · answered by Teetee 2 · 23⤊ 5⤋
yes and its around 8 years 10 for bankruptcies. And foreclosures kill your credit score too making you a higher risk to lend to.
2006-10-25 12:34:11 · answer #2 · answered by Anonymous · 3⤊ 2⤋
Yes, roughly for 10 years
2006-10-25 12:32:16 · answer #3 · answered by infernal_seamonkey 4 · 3⤊ 2⤋
Yes
2006-10-25 18:23:56 · answer #4 · answered by W. E 5 · 3⤊ 3⤋
Without a doubt, as it is part of your credit history
2006-10-25 12:32:57 · answer #5 · answered by Anonymous · 2⤊ 2⤋
Here are some articles that may help you better understand forclosures and how they affect your credit report:
http://www.mortgagenewsdaily.com/2212005_Understanding_Your_Credit_Score.asp
http://www.mortgagenewsdaily.com/8192005_Foreclosure_Scams.asp
2006-10-25 14:58:41 · answer #6 · answered by MortgageBroker 1 · 3⤊ 2⤋
EVERYTHING IS ON YOUR CREDIT RATING IF YOU ARE LATE PAYING A BILL IT WILL SHOW UP
2006-10-25 12:43:35 · answer #7 · answered by luvnalize 1 · 3⤊ 4⤋
YES it does!
2006-10-25 12:32:34 · answer #8 · answered by Doug 3 · 3⤊ 2⤋
You bet it does!
2006-10-25 12:32:21 · answer #9 · answered by Anonymous · 4⤊ 2⤋