InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Code References 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Double credit damage when 2 mortgages foreclose? CA Posted by Greg on February 15, 2008 at 12:50 AM In Reply to: Double credit damage when 2 mortgages foreclose? CA posted by Jinger on February 14, 2008 at 12:29 AM Lenders/Servicers report to credit bureaus on a monthly basis. So as each loan goes delinquent each will be reported and will reflect delinquent on a credit report. The credit bureaus are not going to pick up on the foreclosure from public records, that simply isn't viable. So if the first forecloses they will report it as such. Likely the second will report as charged off. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Lenders/Servicers report to credit bureaus on a monthly basis. So as each loan goes delinquent each will be reported and will reflect delinquent on a credit report. : The credit bureaus are not going to pick up on the foreclosure from public records, that simply isn't viable. : So if the first forecloses they will report it as such. Likely the second will report as charged off. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2008, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455