Buying Foreclosed Property In California

November 7th, 2008

Buying Foreclosed Property In California

Question: I have 2 homes and one is about to get foreclosed?

Hello, i currently live in California and the housing market is taking a huge dive, i cant make payments for both of my houses so im letting go of one the bank if about to foreclose it. My question will anything happen to my other property when the foreclosed property goes down? How hard will it be for me to buy another home in the Future?

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Answer: My question will anything happen to my other property when the foreclosed property goes down?

> No.

How hard will it be for me to buy another home in the Future?

> Very hard. You have proven to be financial irresponsible. A foreclosure is almost as bad as a bankrupt.