debt






 

Question by  Kate20 (16)

How bad is foreclosure?

 
+6

Answer by  John (9008)

A foreclosure is very bad. It will destroy your credit rating and could leave you still owing money if the item is sold for less than the debt.

 
+5

Answer by  mjjaegly (211)

A foreclosure can be very bad for at least seven to ten years on your credit history. You may lose everything including your car, and some furniture.

 
+5

Answer by  Rose (6804)

A foreclosure on your credit report can prevent you from getting future credit for cars, houses and even limit the houses and apartments in which you can rent.

 
+5

Answer by  Zaka (2315)

It is simply horrible. It ruins your credit and forces you out of your home. You're saddled with sudden debt and the need to find a new home.

 
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