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meekswife · Joined: 22 Feb 2009 Posts: 1 1.32 Dollars($)

MY HOME FORECLOSED I BOUGHT IT FOR MORE ThAN WHAT IT WAS WORTH THE BANK TOOK IT AND SOLD IT FOR LESS...THE HOUSE WAS SOLD I ORIGINALLY PURCHASED FOR MORE THAN IT WAS WORTH THE BANK SOLD IT HOW LONG WIIL IT AFFECT MY CREDIT AND DO I STILL OWE THE THE BANK FOR THE REMAINDER OF MY LOAN

sara · Posted: Mon Feb 23, 2009 4:11 am Post subject:

Hi meekswife,

A foreclosure will badly affect your credit and lower your credit score by 250 points. A foreclosure will remain on your credit report for 7 years. As there is a deficient amount resulting from the sale of the property, the lender will have the right to sue you for the deficient amount.

Take care.

msnover92571 · Posted: Mon Feb 23, 2009 2:00 pm Post subject:

Yes it will be on ur credit report for 7 years and correct they can take you to court and sue you for the remaining balance owed. I hope this helps im sorry for the news.

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