Comments on: Last Options Before Foreclosure http://blog.equifax.com/real-estate/last-options-before-foreclosure/ Fri, 24 May 2013 13:11:28 +0000 hourly 1 http://wordpress.org/?v=3.5 By: Tex http://blog.equifax.com/real-estate/last-options-before-foreclosure/#comment-15391 Tex Thu, 07 Feb 2013 19:08:55 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=4681#comment-15391 Before telling people that a short sale “will typically damage your credit much less than a foreclosure”, you really should read these 2 articles from the FICO Banking Analytics Blog.

They say, “There’s no significant difference in score impact between short sale/deed-in-lieu/settlement and foreclosure.”

Research looks at how mortgage delinquencies affect scores
http://bankinganalyticsblog.fico.com/2011/03/research-looks-at-how-mortgage-delinquencies-affect-scores.html

Are Short Sales Really That Bad?
http://bankinganalyticsblog.fico.com/2012/08/are-short-sales-really-that-bad.html

]]> By: EFX Moderator, EM http://blog.equifax.com/real-estate/last-options-before-foreclosure/#comment-15105 EFX Moderator, EM Thu, 31 Jan 2013 20:35:13 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=4681#comment-15105 Major E. Tucker, Since you worked with your attorney for your bankruptcy, I’d recommend following up with them to figure out the details. They’d have the best idea of what accounts were impacted by the bankruptcy and how. Thanks and good luck.

]]> By: Anonymous http://blog.equifax.com/real-estate/last-options-before-foreclosure/#comment-14937 Anonymous Sat, 26 Jan 2013 13:58:35 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=4681#comment-14937 A planned foreclosure is powerful. The banks have taken advantage of the little guys. BIG corporations use the system–why shouldn’t we. Bankruptcy is not the end of the world. You can wipe out 2nd mortgages, credit card debt and home mortgages AND start fresh. It can take up to 2 years and even longer to get out of the house. BUT you must put the mortgage $ away, and when you do lose the house, you will have a nice bank account. A potential landlord will be thrilled if you hand him/her a years worth of rent. Believe me, this is powerful and if you are in a position to file bankruptcy–DO IT!! Take advantage of the good old USA–The big boys do it all the time. Don’t be ashamed. Feel empowered!!!

]]> By: Major E. Tucker http://blog.equifax.com/real-estate/last-options-before-foreclosure/#comment-14936 Major E. Tucker Thu, 24 Jan 2013 02:34:24 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=4681#comment-14936 I filed chapter 7 in 2010 it was finalized. I told the attorney I wanted to keep my home. This year I got a credit report, it states my home has been charged off through my chapter 7. What does that mean and is it to my advantage or the mortgage company. Thank you~

]]> By: Jeffrey L. Shurtliff http://blog.equifax.com/real-estate/last-options-before-foreclosure/#comment-14884 Jeffrey L. Shurtliff Wed, 16 Jan 2013 14:22:25 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=4681#comment-14884 Being foreclosed on illegally and filing three suits against the lender showing misconduct the courts let them go. This is wrong and I will never forget how I have been screwed by the system after working hard all of my life.

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