by Laine
(Tampa, Florida)
Ask Kate: How Much Foreclosure Affects Credit Scores
Kate, how much will foreclosure affect a credit score? I know more than one person facing foreclosure and they don't seem to be putting any effort into trying to save their home.
I know you probably won't be able to give me a direct answer, but roughly how much would a foreclosure effect someone's credit rating?
How long will they have to wait before they can try to buy a house again?
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Your friend,
Kate Ford
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