Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
caregiver1990

0 Contributions
0 People Helped
What happens to a credit score of over 700 if you have a home foreclosed on?
I put my daughter and son-in-law's mobile home in my name since they had bad credit and due to illness they can't make the payments and neither can I. I've never defaulted on a loan before. I've always paid my bills and now my credit is going to be ruined and I can't do anything about it.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1131 People Helped

Do you think the bank will repo or sell it? Are they still living there? If they are not living there or if there is a good chance that the bank will kick them out and sell it, you may want to try to find different living arrangements for them and get them out of there and sell it asap, if the sales price could cover the amount owed. You could even think about kicking them out and then renting it to cover the monthly loan payment, which would probably be the easiest thing to do.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.