How to screw up your credit

By
Real Estate Broker/Owner with Eagle Ridge Realty / Signature Homes & Estates BRE# 01309169

In case your clients ask, one can really screw up their options and ability to get a good loan.  One of my agents called me yesterday, as a former client of hers from a year ago sold their house and thought that since they sold, and it was under a notice of default (though not a short sale) that they would retain their good credit.  They applied for a new loan at a bank yesterday, and the missed payments on their previous mortgage showed up, as expected, but they thought they were out of the woods.  Not so:

GETGO

So, one can see how missing a payment can really screw you up.
Here, it shows how a foreclosure can really mess up your credit

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Topic:
Mortgage / Finance
Tags:
credit scores
buying after a foreclosure

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Rainer
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Kelly Wuthrich
Silvercreek Realty-Eagle, Meridian, Boise, Kuna, Star~IDAHO - Eagle, ID
Eagle & Meridian ID Real Estate

Very interesting.  I really like the chart visual.  Thanks for the post!

Apr 14, 2011 01:00 PM #1
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Rainmaker
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Gary Frimann

California Broker and REALTOR
All Real Estate is Local!
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