Moving to another country this year & may have to go on foreclosure. What are the consequences besides credit?

2 Responses to “Moving to another country this year & may have to go on foreclosure. What are the consequences besides credit?”

1. Luke 6:37 says:

   November 16, 2010 at 1:19 pm

   See if they will allow a short sale and forgive the rest of the loan. Looks like they will have a loss anyways and the short would cost them less money than foreclosing on the property.
2. godged says:

   November 16, 2010 at 2:15 pm

   I agree, see if your lender will let you do a short sale.

   The foreclosure will stay on your credit report 7 – 10 years, you will pay more for credit and insurance. Avoid foreclosure if you can.

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