if a pearson has their house foreclosed what would their credit be like?
116577
mortgage history is the key to your credit.after foreclosure your screwed for 7-10 years creditwise. even after that it still has to be dealt with.
510256
When you apply for your state real estate license, they do a criminal background check with fingerprints.  I've been licensed in 2 states and in neither state was a credit report pulled as far as I know.  To be licensed they are primarily concerned with "moral torpitude" (the actual term used, how old-fashioned!).  \n\nIf you are going through school and interested in law, real estate and credit, consider becoming an on-site property manager.  It will give you real estate experience, you'll be running people's credit checks so you know how that works, you'll see the deals the owner of the property do and how they handle things, and unfortunately you'll probably deal with the court if you have to do an eviction.  You usually get free or reduced rent plus you might even get a small salary depending on how many units you are responsible for.
406947
Oh!  Another dragonfly!\n\nNo I haven't used them, and yes, I'd be worried about all of that data because you don't want a bunch of bozos pulling your credit report and driving your credit score down.  I used CTX Mortgage and they were good.  They are their own lender so their margins are bigger than many banks because they are lending out their own money.  Or try www.naca.com if it's your first home.
1157254
You might want to try to rent from a private owner...usually these people dont do credit check..but if they do you might have to get a co-signer or pay a few months ahead of time
791461
They are borrowing against your credit. They finance the house usually a HUD or foreclosed property at full market value (borrow more than the house cost) on your credit and in your name and with in the six month period stop making payments and take off with the money. Your name, your credit, your house, your inflated house payment which is more than you can sell the house for.
953213
Good luck; it's tough to be in that situation.  As previous answerer suggested, have you spoken to your bank?  Ask for loss mitigation department...or their attorney.  They might want to work something out with you.  However, I don't agree that it costs the bank "$60k" to foreclose on a house....much less for the legal costs and real estate doesn't depreciate that much in a forced sale.  But odds are that if it's gotten to foreclosure, you have already gone past trying to work it out.  \n\nYou can file bankruptcy if you think you have the income to meet monthly obligations on the mortgage in the future.  That will allow you to work out payment of the past due balance.\n\nAnd yes, if the property doesn't bring enough at sale to cover the mortgage and legal costs of the foreclosure, technically the bank can come after you for the deficiency.  They don't always do that however because of restrictive rules on sale of the property and they know if you had trouble paying your mortgage, how are you going to pay the deficiency?  But, it definitely will go on your credit and will affect your ability to buy another house in the foreseeable future.  Do your utmost to try to work the matter out with the attorney or the bank if at ALL POSSIBLE.
748600
yeah, if a HUD home counts.  Otherwise, in order to pay the mortgage or rent they have a dozen or so relatives living in one house.
223691
The creditor loans money such as credit cards, or home loans. As a borrower you are a debtor, and the obligation to repay the debt is secured by a guarantee of some sort. In real estate loans the property is a further guarantee that you will pay that obligation.  On personal credit cards the risk is higher, and therefore "THE HIGHER THE RISK THE HIGHER THE RATE" Your interest rate will be double on a credit card as opposed on your house.  There is still a substiantial obligation in guarantee with those credit card lenders or creditors.  That is your credit report. that is the strogest neck hold on the borrower. That is what puts the creditors loan moneys into an obligation which is guaranteed to be paid back. The contractual grarantee is the agreement and terms of the credit. Therefore as far as organized lenders , with or without a lot of security to guarantee repayment of the debt the crfeditors money is still the borrowere obligations which are in guarantee.
908646
Some credit is available to people with bad credit experience.\n\ngood luck !
200993
If you just paid them of it will usually take about 30 days for that to reflect on your credit report.. how bad is your credit if is under 600 you should contact a company called nations point.. 800-770-4277 or H&R Block Mortgage  they usualle work with people that have less than perfect credit.. if you credit score is under550 you should waith or else your interest rate will be really high .. if your credit score is over 600 or better then call E-loan they have some really good programs .. that might be able sutable for you. I work in the mortgage industry
1089684
if you have bad credit you would have to take out a loan using your property as collateral providing there isn't a lien on the property already
435273
Some credit card companies will write off the debt if you send them a death certificate others will want the payment but if the house is the only asset I would ask a lawyer first.
314370
Then you need to call the Mortgage Servicing department for your Mortgage Lender.  You DON'T want that to negatively affect your credit!!!!!!!
1122184
whoever is one the mortgage itself will receive the bad news from the credit bureaus. The reason the bankruptcy occured, I assume, is because of foreclosure. since the mortgage is in your husbands name, it will go against him. once everything is finalized, just check your credit to make sure it doesn't affect you in the process. never hurts to check.
646454
I have been working in the mortgage industry for about 4 years now. Let me tell you up front, in all honesty, it's MUCH more difficult to work with someone who has a previous bankruptcy than someone who doesn't, even if both customers have the same credit score! From a lenders point of view, when you have a bankruptcy we automatically downgrade your credit grade even if you're credit is restored and you have a 700 score. Normally a 700+ score would place you in an "A+", "A", or "A-" credit grade depending on a few things such as mortgage payment history. However, when we see a bankruptcy less than 7 years out, we will bump you down to a "C" credit grade or less. Which means you won't be able to obtain maximum financing. Most lenders max out at 80% or 85% LTV (loan to value) with "C" credit grade / bankruptcy. That means if you wish to purchase a $100K house, you would only be able to finance $80K or $85K of it. There are lenders out there that will still lend to customers who may be even one day out of discharge, but you're going to get raped on the rate. It's always best to avoid bankruptcy at all cost! If you have to do it, look into filing a chapter 13. Filing a chapter 7 is basically like throwing up a big middle finger and saying I'm not paying anyone any money. That's why it has a 7 year period. In all reality though, I still have customers come to me that had a bankruptcy more than 7 years ago and I STILL see it on their credit report. Chapter 13's typically last anywhere from 2-4 years, and in a C13BK you work to pay back negotiated amounts. This will always look better than paying back nothing at all.
299162
Generally, if the lender forecloses on your property, the IRS treats it like a taxable sale or exchange, from which you may have a gain or loss, even though you did not actually sell the property. It is important that you check if the loan you had was nonrecourse or recourse. If your loan was a nonrecourse loan (mortgage secured by your home), you treat the foreclosure as if you sold the property at the fair market value. If your loan was recourse debt (meaning you are personally liable for payment) you may have to figure out if you owe taxes on income realized from cancellation of your debt, in addition to the gain or loss. It sounds so unfair, but you won't realize this taxable income as long as the value of the home is more than the value of the debt cancelled.\n\nYou should definitely consult with an experienced CPA to make sure you're filing everything correctly. If you feel overwhelmed just relax and file for an extension. It's better to get everything right the first time. Good luck.
680826
Revolving ( credit cards), installment ( auto loans), secured(you give $300 they issue card with $300 limit), unsecured, non traditional ( Verification of rent, utilities).\n\nJust as many variations of credit reports exist.  FNMA approved for Mortgage lending will differ greatly then any other report you can request on your own.