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sucks2be40 · Joined: 11 Mar 2010 Posts: 1 1.32 Dollars($)

I have a home that the builder financed for 3 years then I must refinance. I put some money down and have about $10,000 in equity. I am being offered a job out of town. I would be willing to lose the $10,000 because this job pays me two times that more than I make now....My question is... If I cant sell the home and I let it go back to the builder does it show on my credit report as a forcloser? He doesnt report my "always on time" payments to my credit report now.

gmakerley · Posted: Thu Mar 11, 2010 9:55 am Post subject:

how it would get reported, if at all, depends on how he handles the situation. by your handing it back to him, that would alleviate the need for him to foreclose, so that's not a likely outcome.

the reason he doesn't report now is that he is not, undoubtedly, a reporting member of the credit bureaus. that means he won't be reporting this new transaction either.

i don't think your credit report will show anything at all unless he begins a legal action against you.

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