Re: For those scared of Foreclosure

Posted by Why Chat (209.240.205.61) on November 16, 2003 at 18:17:01:

In Reply to: For those scared of Foreclosure posted by Buck on November 16, 2003 at 11:34:43:

It is possible,I suppose, if you already have a new home with good financing, and are in an area of stable or declining property values, and if you are overfinanced on the "foreclosure" property,that it will play out the way you describe.

However, even in your case, when it hits your credit reports it will cause problems with your cc accounts, including interest rate hikes and non renewals.

For the rest of the World,who cannot sit back and relax in a new home,or who are in an area of the Country where property values are rising, or who are NOT maxed out on their mortgage financing, the risks of a quick foreclosure and eviction are all too real.

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