Legal Question in Credit and Debt Law in Texas

Forecloser

How does a forecloser effect may credit rating and for how long would i still be able to Qualify for a loan for a noth house.


Asked on 3/26/04, 10:59 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Forecloser

A foreclosure will obviously have a negative impact on your credit rating. It will remain on your credit report for seven years.

As to when you may qualify for another loan will be determined by your financial situation and the lender's risk tolerance.

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Answered on 3/27/04, 10:07 am


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