Upcoming Foreclosures

What will all of these homeowners going to face once their foreclosures are done>?

What is the longterm fallout other than credit damage? Garnishments, phone calls from creditors. Can it really be so bad?

Public Comments

1. If you have a foreclosure on your credit report, you can bet that your credit score will be pretty crappy for awhile. If you only had a first TD on your home, you don't have to worry about any other fallout, unless you are in a recourse state. A second TD holder may turn you over to collections, but this is usually all that they do. If you don't appear to have income or assets, the likliehood of a judgment is low. You can always change your phone number. Good luck!