Re: Foreclosure...Begging for a Response, Please

---

Posted by damien on August 22, 2003 at 09:53:39:

In Reply to: Re: Foreclosure...Begging for a Response, Please posted by Michelle on August 20, 2003 at 12:05:18:

: We are really struggling with what is best to get us out of this unfortunate situation that too many are facing right now. And to pick up the pieces and move on and help put back together our family.

: This last couple of years and situations that we have been faced with, have already taken so much of who we are. And is now stressing on us so much, I don't want this to hurt us anymore.

: Please someone respond on what is the most appropriate steps to take now. And what will be the consiquences of these steps.

: Thank you.

: Michelle

Michelle,
without reading any of the advice you already received, I am simply answering your very first question. No, life does not end if you have a foreclosure. Most people would be surprised on how fast you can rebuild yourself.
Under Fannie Mae guidelines (this is what counts) a foreclosure, BK, or late payments will only affect your home buying process for 24 months. After 24 months has passed this will no longer be viewed as a reason of being turned down. However, don't get me wrong this will still have a negative effect on your score. You would also be surprised on how credit repair service work as well.
If you master the skill of rebuilding your life, within 24-30 months you could be a homeowner again with average credit scoring. However the BK and Foreclosure will still haunt you for 10 years, unless you are successful in credit repairing.
I am not giving you any advice in regards to letting your home be foreclosed on, I am simply pointing out that your life is not even close to coming to an ended. Lying awake at night thinking of things adds un-needed stress and in most cases, unrealistic ideas.
Good Luck

• www.888wcps.com

Follow Ups:

---

Name    : 


E-Mail  : 


Subject : 



Comments:




: : We are really struggling with what is best to get us out of this unfortunate situation that too many are facing right now.  And to pick up the pieces and move on and help put back together our family.





: : This last couple of years and situations that we have been faced with, have already taken so much of who we are.  And is now stressing on us so much, I don't want this to hurt us anymore.





: : Please someone respond on what is the most appropriate steps to take now.  And what will be the consiquences of these steps.





: : Thank you.





: : Michelle





: Michelle, 


: without reading any of the advice you already received, I am simply answering your very first question. No, life does not end if you have a foreclosure. Most people would be surprised on how fast you can rebuild yourself. 


: Under Fannie Mae guidelines (this is what counts) a foreclosure, BK, or late payments will only affect your home buying process for 24 months. After 24 months has passed this will no longer be viewed as a reason of being turned down. However, don't get me wrong this will still have a negative effect on your score. You would also be surprised on how credit repair service work as well. 


: If you master the skill of rebuilding your life, within 24-30 months you could be a homeowner again with average credit scoring. However the BK and Foreclosure will still haunt you for 10 years, unless you are successful in credit repairing. 


: I am not giving you any advice in regards to letting your home be foreclosed on, I am simply pointing out that your life is not even close to coming to an ended. Lying awake at night thinking of things adds un-needed stress and in most cases, unrealistic ideas. 


: Good Luck








Optional Link URL : 


Link Title        : 

If you press "Preview Message," you are taken to a preview screen where your
message is shown to you before allowing you to post it.
Your message is not finalized until you click "Post Message".

---

Foreclosures Section

Foreclosure Help

Foreclosure Investing

Real Estate Articles

Our Site Resources

Discussion Archives