Posted on: 25th Sep, 2008 09:10 am
how much is the cost on a foreclosure
Hello luis
Welcome to the forums. The cost of a foreclosure will vary from situation to situation. The idea is to avoid it if you can. The foreclosure cost will include back fees incurred during the time you fell behind, the difference that would be owed if your home were put up for auction be sold then you would pay the lender the difference. I have more questions for you email me mike@fmresolution.com lets talk in more detail.
Welcome to the forums. The cost of a foreclosure will vary from situation to situation. The idea is to avoid it if you can. The foreclosure cost will include back fees incurred during the time you fell behind, the difference that would be owed if your home were put up for auction be sold then you would pay the lender the difference. I have more questions for you email me mike@fmresolution.com lets talk in more detail.
Hi luis!
Welcome to Forums!
Foreclosure will incur a huge cost on your part and it will take lot of time to complete the process. But I think, if situation permits, you can go in for deed-in-lieu(DIL) or short sale. Both the processes will incur less cost and less time. Along with this you should also remember that foreclosure will badly affect your credit score. By doing a short sale or DIL, your credit score will not be damaged to that extent.
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
Foreclosure will incur a huge cost on your part and it will take lot of time to complete the process. But I think, if situation permits, you can go in for deed-in-lieu(DIL) or short sale. Both the processes will incur less cost and less time. Along with this you should also remember that foreclosure will badly affect your credit score. By doing a short sale or DIL, your credit score will not be damaged to that extent.
Feel free to ask if you have further queries.
Sussane