Foreclosure on CR?

[Anonymous]

How long does it take for a foreclosure to show up on the CR?  I had two foreclosures that happened about 2 months ago but so far, nothing except the lates are showing up...

[Anonymous]

what state are you in if you dont' mind me asking.

[Anonymous]

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pengu14 wrote:

How long does it take for a foreclosure to show up on the CR?  I had two foreclosures that happened about 2 months ago but so far, nothing except the lates are showing up...

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That would depend on when they are reported to the CRA. Some have said that their foreclosure doesn't show, some say it shows right away. A few have noted that it showed when in pre-foreclosure.

[Anonymous]

This is in California

[techgirl]

Would that be a two loans on a one home? Like a 1st and a 2nd? Would that be on foreclosure or two?

[Anonymous]

Californian's are lucky....you live in a non-recourse loan state which means the lender cannot come after you for the difference in price the house sells for at auction and what you owe. I wish Florida was like that.

[Anonymous]

Two seperate properties... the first of which foreclosed almost 3 months ago...

[techgirl]

Well, as far as i understand it, the lates should show up first. Let's say you defaulted in June 2008 the actual foreclosure would be done around January 2009. In the meantime, you should have lates hitting your credit and lowering your score. I heard that a single foreclosure can lower your score by at 100 to 150 points. But if you can keep everything else current and in good standing, you will be able to recover that much sooner. Although even if you can rebound with a good credit score, it will be at least 2 to 5 years before you can get another home loan. FHA 2-3 years Conventional 5 - that is what I had heard....