Mortgage Discussion - Re: Approaching a Pre-Foreclosure Owner

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Re: Approaching a Pre-Foreclosure Owner - Tips??

The Shadow

2005-07-16, 11:25 pm

Very true, I have a person who has a 461 credit score who has a
foreclosure, she some late payments but the foreclosure just kills it.
Foreclosure is basically the worst that could happen to a credit report

quote:

>
> A friend who owns a mortgage brokerage told me that a foreclosure is one of
> the worst things that can show up on a credit report -- worse than late
> payments, worse than bankruptcy. He said Creditors reason that if the
> Debtor's insolvency is so bad that it results in the loss of the roof over
> your head, it just doesn't get any worse than that. Is that not true?

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