Re: repurcussions of foreclosure with private lender
I'm so sorry to tell you this, but are most likely already severely damaged.
the horrible down side to private lenders is if they do not report your payments to the credit bureaus, you're now two years and counting without a pyament history. That means your score has been dropping, becuse the credit bureau will have a record of the loan, but no record of payments.
A foreclosure at this point could potentially drop you down to below 600 or worse.
www.wjfa.net/fs/fs.html
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