Please someone who hasn’t bought into the fear: is hurting my credit score w/ a foreclosure really that bad?

TJL asked:


if im not planning any big purchases, what does it matter over the next 7 years? My house is WAY underwater, and as someone who did everything responsible: fixed rate, down payment, etc, my mortgage company is refusing to work with me at all on my negative equity situation.

Tom
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One thought on “Please someone who hasn’t bought into the fear: is hurting my credit score w/ a foreclosure really that bad?”

  1. For 10 years you will drop about 300 points and your credit report as such for 10 years you signed contract to feel the money back.

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