Posted by Nate on February 26, 2001 at 14:30:39:
A mortgage delinquency is bad; a foreclosure is worse. If you have a foreclosure on your credit, you can pretty much forget about buying a home for the next 7 years, even with subprime lending.
pre-foreclosure - Posted by Kelly
Posted by Kelly on February 26, 2001 at 14:23:51:
In the money world, what is happening to a persons credit once a notice of sale has been recorded? What is the motivation to cure the default? (with respect to their future). Generally speaking, most of these people are at minimum, 3 months behind on their first. I am asking because I am getting some response from pre foreclosure contacts and am not really sure what to say when they have resigned themselves to letting property go to foreclosure. What are the words to light the fire?
thanks
Kellyaz