Many questions arise  when faced with a looming foreclosure and the possible loss of your house. An important one is. How will all this affect my ability to buy another house again in the future? “I keep hearing about short sales is that a better solution?”

Before considering  the short sale of your home, you need to ask, “how will my credit be impacted?”

“Will I always have a bad credit score?”

Foreclosure and Credit Score  are linked, homeowners have indeed hurt their credit by missing  payments. Unfortunately, the higher the credit score you start with, the bigger hit your score will take. This has nothing to do with your creditworthiness, but with how the credit scoring system works. And honestly, foreclosure is definitely going to have a negative impact on your credit score, even doing a short sale will.  Read the rest of this entry

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I bet you had no idea how many friends you had. I mean, recently your mailbox has been overflowing with letters and postcards from people telling you how they want to help you. Who are these people anyway? And how exactly are they going to help you? Makes you wonder right? To be sure, there are a number of different options for stopping home foreclosures in Utah, options that you should be aware of, you do need to do your research. Read the rest of this entry