Ever Wonder How Foreclosure Impacts Your Credit Score?
April 22, 2010 at 5:57 am | Posted in 1 | 1 CommentCNNMoney has a great article about the extent late mortgage payments, bankruptcy, and foreclosure impact your credit score.
Despite the problems a poor credit score can cause, Experian’s Sweet recommends that people who are in financial dead ends, like totally unaffordable mortgages, it’s better to recognize that and cut your losses quickly; don’t prolong the problem.
“You need to do what you need to do to get your finances back in order,” she said. “Don’t worry about your credit score.”
Whatever your situation, consult your accountant, lender, attorney, and anyone else who can help you make the right decisions for your financial future.
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