Posted on: 05th Feb, 2009 01:31 pm
I bought a house worth about 410K in 2004. I lost my job for aboyt 6 month and I got another one but with less pay. I am thinking about working away from my current home and just letting is go into foreclosure.
Please, I will appreciate if anyone can advice me on how a foreclose on my credit can affect/prevent the next potential employer from hiring me.
Thanks
Please, I will appreciate if anyone can advice me on how a foreclose on my credit can affect/prevent the next potential employer from hiring me.
Thanks
It should have no effect on your ability to get another job.
There are many employers who check your credit report before offering you a job just to avoid harassment from the possible wage garnishment that may happen if the creditor brings judgment against you. The most important thing about foreclosure is that, a foreclosure may bring down your credit score by as much as 260 points.
Under foreclosure, you not only lose you home, but also there is a possibility of the creditor bringing judgment against you to recover the outstanding debt.
Under foreclosure, you not only lose you home, but also there is a possibility of the creditor bringing judgment against you to recover the outstanding debt.
