If I go into foreclosure, my status as residence of this country would change??
2007-12-03 09:45:42 · 4 answers · asked by cris_romy 1 in Business & Finance ➔ Renting & Real Estate
Why! if your are a resident you will remain so. It will affect your credit big time that is for sure.
2007-12-03 09:48:45 · answer #1 · answered by golferwhoworks 7 · 1⤊ 0⤋
There needs to be a misdemeanor or a criminal offense to affect your residency status. Foreclosures and other civil issues do not affect your residency status unless it was fraudulent. For more information on how this stuff works, see the book below.
2007-12-06 09:03:40 · answer #2 · answered by staceyreyes01 2 · 0⤊ 0⤋
No, it won't change your resident status to live in the country.
It will affect your ability to live in a house as an owner for at least a few years. But that's an effect on your credit report, which doesn't have anything to do with your ability to live and work in the country. It just affects your ability to borrow money and obtain credit in the future.
2007-12-04 11:12:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Foreclosure is the process the bank takes when the payments aren't made on the home. You will loose the house, but it will not effect your status in the country. You can find another place to live...apartments are good.
2007-12-03 17:52:11 · answer #4 · answered by mickie 4 · 0⤊ 0⤋