Foreclosed Trailers

May 26th, 2010

Foreclosed Trailers

Question: How do you foreclose on a house?

We are currently buying a smaller trailer compared to our 3 floor House. We cant afford to keep paying for this house in the summer time. We were wondering what the consiquences were on foreclosure? We really need an Honest answer beucase it may affect where we live and if we will have a criminal record or not. Also, my mom has a credit score of 720 and weve already been approved. How will this affect her Credit???

Answer: Nothing 'life and death' about a foreclosure. You couldn't afford the payments so the bank took the house back. Happens all the time. Your credit score goes down. From 720 to 600 or less. You will not get approved to buy a new GM car on their current Zero % interest rate for qualified buyers.

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