Cal Foreclosure
Regarding Forclosure. We’re not in forclosure.?
My home is not nor will it be in foreclosure. I live in So Cal where the foreclosure rate is among the highest in the nation. My question is simply this: I’ve been told that a foreclosure on a credit report is equivalent to bankruptcy. True or False?
It depends on the lender. Some say yes, some say no. Even FICO, Beacon, etc. don’t agree.
They’ll say whatever answer makes them the most money.
Creditworthiness is strictly someone’s opinion of your credit. There are a lot of opinions out there and they are all over the board. That’s why creditors started using a creditworthiness system like FICO, etc.
I’m sure you understand.
Pre viewing Foreclosures and Pre-foreclosure for So Cal
