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lucas
Guest
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 Posted: Thu Oct 25, 2007 5:49 pm Post subject: affect of foreclosure on other credit |
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say for example you get a deed in lieu and your score drops. what happen sto your other open credit cards..?
will those companies raise your interest rate or even cancel you..?
capital one and chase to be exact..
i know or heard a foreclosure hurts your ability to rent but you can always get back on your feet and flash your job and savings and a landlord should know that it was tough for many in the credit crunch. |
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 jenkin7
Joined: 04 Jun 2007
Posts: 4281
Location: Hawaii
675.45 Dollars($)
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| Posted: Fri Oct 26, 2007 12:35 am Post subject: |
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Hello Lucas,
I don't think the credit card companies will raise your interest rate or cancel you if your payments with them has been regular.
If you have a regular source of income to manage the credit cards, I guess, they are not going to stop you. |
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ctcloan
Joined: 27 Oct 2007
Posts: 10
Location: FLORIDA
5.27 Dollars($)
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| Posted: Sun Oct 28, 2007 1:13 pm Post subject: advice |
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Hi There...your credit cards are safe..the agreement for that arangement is between you & them & the mortgage company is not going to tell them! The foreclosure is going to hurt your credit & will be trailing you up to 10 years on the credit report. There is no way you can refinance? Have you tried?
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Lisa Marie Oglesby
Mortgage Professional |
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