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jashwood · Joined: 20 Mar 2010 Posts: 3 1.87 Dollars($)

After several failed attempts to remedy a foreclosure, my house went to a sheriffs sale today. We moved out several months ago and was close to a few short sales, but all were turned down by the lender. What can we expect to happen now? The house is in Ohio. Thanks.

sara · Posted: Mon Apr 19, 2010 2:51 am Post subject:

Hi jashwood,

A foreclosure will lower your credit score by around 250 points and will remain as a negative item on your credit report for 7 years. Moreover, you won't be able to qualify for a loan immediately. You will have to wait for 3-4 years in order to qualify for a loan.

Take care.

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