Posted on October 2, 2010.
How much worse of an effect on a credit score is a foreclosure of a deed in lieu of foreclosure on a rentala I am facing a seizure of property rentals. I want to reduce the negative effect on my score. Is this an act in place almost as bad as a foreclosurea I've never been late or missed any payments on my personal home, but my chances of qualifying for another loan never have gone for 7 yearsa Banks take into account that these locations were, and I probably would not default on a new loan on a new personal residence (move)a I guess what I'm asking is: Will I rent in my new location for a good timea
Both situations are bad and will probably affect the same
Banks / lenders will not consider the fact that they were renting .... they will look at the result which is input
Both are equally bad. Banks do not take into consideration that they are hiring, remember to document the housing market and why it went to foreclosure. You may or may not have to rent. Depends on your overall score, and other history of online commerce. If all you're late on and default on rental properties, you may be allowed,