How bad is a previous foreclosure on credit?

A property foreclosure is one of the most damaging events in a borrower's credit history. In terms of the effect on credit history, a deed in lieu of foreclosure or a short sale is not as adverse an event as is a forced foreclosure.

Can I protect my home from creditors?

How does a home go into foreclosure?

 

Copyright © 2005 Inman News Features
All Rights Reserved