Foreclosure, is when your mortgage lender repossesses your home, forces you to move out and sells your home to try and recoup some of their financial losses. If the lender sells your home for less than the amount of your loan, you are often still liable for the remaining debt.
If you are involved in a foreclosure, it is reported to the credit bureaus and will stay on your report for seven years, narrowing your chances of acquiring a decent home loan in the future.Foreclosure should be avoided if at all possible.We understand that sometimes the unexpected happens and puts responsible home owners in regrettable circumstances. Our experts can give you the tips you need to help you avoid foreclosure and get back on track.
Credit Repair Kings can help you regain your financial credibility and take steps to become a home owner once more. Schedule your no obligation consultation with Credit Repair Kings today to discuss the removal of charge offs from your credit report.