Home Loans page 149

Does anyone know if there are any types of first time home buyer loans out there to repair houses?

Where do i go for a home-loan?

are these program with 0 down and bad or no credit really true to buy homes?

First time home buyer w/ bad credit and 0 down. Is there ANY loans out there for me?

How do I get a home loan whilst you are Centrelink Payments and earning cash in hand money with bad credit?

Does anyone know any reputable bad credit home loan dealers?

The fury of 99%

I need a business loan, but have had some credit issues this year.?

Who is responcible for the bills of a family member who is incapacitated?

For example. A person owns 4 properties each owing $100K. He loses one to foreclosure. What if he loses all four, will there be a difference in consequence ie, credit is worse etc.. On the other hand, what's worse, a person with one million dollar mortgage is foreclosed vs. the first person with 4 homes totalling only $400k in loans being foreclosed on all of them. Who would suffer the most as far as credit and other negative effects.

multiple foreclosures would certainly be 'worse' than a single one.

For credit, multiple foreclosures are worse. A foreclosure is a derogatory item; more of them means worse credit. Prior to the foreclosures, the person would receive four 30-, 60- or 90-day lates each month instead of just one. Four foreclosures means four sets of court costs and attorneys' fees, plus a higher bill from the defendant's attorney. I'm not sure how many simultaneous foreclosures it would take to drop a person's score below 400. I would assume after the third the person would just forget about credit for a few years.

Each loan is its own tradeline. There is only one grading for foreclosures I7 so it doesn't matter how much you defaulted. Each derogatory tradeline will cause a significant loss in credit score (50-100 points for each one). The amount of the foreclosure comes into play if you try to apply for new credit, lenders are a lot less forgiving and less willing to restablish with a borrower who caused a large loss.