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    roxie59's Avatar
    roxie59 Posts: 7, Reputation: 1
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    #1

    Nov 11, 2007, 07:44 AM
    What will happen to my credit if my home goes into foreclosure ?
    Just wondering what to do about my home that I have been trying to sell for one and half years? I am struggling to pay for this home. We made a big mistake and we built another home thinking that this home would sell. I am just wondering how long foreclosure will stay on someone's credit and will it effect other things on my credit report if I need to purchase something in the future? I am trying so hard to sell this house and will even consider a short sale. Please help!!
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Nov 11, 2007, 08:19 AM
    Helo roxie:

    Bad credit stays on your credit report for 7 years. Bankruptcies and judgments stay on there for 10.

    If you'll consider a short sale, talk to your bank. They'll do it or they won't.

    excon
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