Foreclosure

[Anonymous]

How long does it take to be considered in foreclosure?

How many payments behind would you have to be?

What are the effects of the foreclosure on your fico score? 

Is it worse than a BK?

What if I have to do a Chapter 13, is this a repayment plan? 

Does this stay on longer than a Chapter 7?

Thanks for your responses...

Eve

[Anonymous]

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@Anonymous wrote:

How long does it take to be considered in foreclosure?

How many payments behind would you have to be?

What are the effects of the foreclosure on your fico score?

Is it worse than a BK?

What if I have to do a Chapter 13, is this a repayment plan?

Does this stay on longer than a Chapter 7?

Thanks for your responses...

Eve

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foreclosure will stay on your CRA for 7 years just like a CH13. CH 7 stays for 10 years.

BK will protect your home.

You have been up and down that last few weeks? What has changed?

I assure you your Mortgage CO wants you to stay in the house- not foreclose on it.
Can start as soon as 30 days, most start at 60 day w/o arrangement made with the lender.

[Anonymous]

can't get a yes on the refi.  getting the run around, and getting dropped broker won't call back and is never in the office.  really tired of this whole rat race and it is very emotional doing everything that is being asked and it doesn't pan out.  frustrated and disheartened mostly.  thanks for caring.  eve