So I've been working very hard at rebuilding my credit even though I'm going through a foreclosure on my home (due to divorce). I just spoke with one of the attorneys for the bank the other day, and they are going to be able to process a Deed in Lieu of Foreclosure by the end of the year. What does this mean for my credit score? I mean I know it's going to hit it hard (just like the late payments for the mortgage have been for over a year now). I have raised my score over 100points since June, so I'm just curious. I have two more collection accounts on Experian - one of which I have arranged a PFD for. I have two showing on TransUnion - one of which I have arranged a PFD for. Equifax shows none. My plan for now had been to garden and wait for my score to improve so I could apply for a refi for my car loan - but I'm wondering should I be trying to get that through before the Deed in Lieu hits my credit?
Starting Score: 539 EQ 06/19/2012
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.
>> About myFICO
