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morales asked:
What is the longterm fallout other than credit damage? Garnishments, phone calls from creditors. Can it really be so bad?
What is the longterm fallout other than credit damage? Garnishments, phone calls from creditors. Can it really be so bad?
Tags: Face, Fallout, Foreclosures, Phone Calls
November 5th, 2008 |
Tags: Face, Fallout, Foreclosures, Phone Calls
November 6th, 2008 at 11:26 am
If you have a foreclosure on your credit report, you can bet that your credit score will be pretty crappy for awhile.
If you only had a first TD on your home, you don’t have to worry about any other fallout, unless you are in a recourse state. A second TD holder may turn you over to collections, but this is usually all that they do. If you don’t appear to have income or assets, the likliehood of a judgment is low.
You can always change your phone number.
Good luck!