Author Topic: How your credit score gets hit during a foreclosure?  (Read 523 times)

Offline caroline

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How your credit score gets hit during a foreclosure?
« on: May 27, 2017, 04:01:52 PM »
Foreclosure, a situation in which your lender takes the ownership of your house and sells it to recover the debt you owe on your mortgage.On an average, the drop due to the foreclosure depends on the current credit score you are having. If your credit score is 680, the drop will be 80-105 points and if the credit score is 780, the drop will be 140-160 points. To say, in short, higher your credit score is, bigger will be the drop.
Caroline Allison is an expert listing agent and help in stopping foreclosure

Offline marksmith

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Re: How your credit score gets hit during a foreclosure?
« Reply #1 on: July 15, 2017, 01:17:03 PM »
Hi,
Foreclosure like situation no one wants to happen in his/her life. It puts a great effect on your credit score.
Thanks!!