What effect has foreclosure got on credit
With a foreclosure, you know the consequences, your credit rating is affected with your current credit report. By this, it would not give you a good standing on your financial report. Getting another house, a car and other necessities of life may be difficult. So, are their ways to repair the credit? Yes, and this are the two which may not really be comfortable.
Wait the duration time to get it removed
This may not be a way around the issue since you have to wait for at least 7 years for which for the foreclosure report to lasts. After this, your credit level is restored again. You may not find this easy to wait that long.
Take a dispute route
The next option which is also not an easy one is to ask your lender to lift the foreclosure on your report. You may have to open up a dispute to show why this should be done. You can seek help with a loan modification attorney to give you necessary support on this process. Medicare medics is always available to help in this. You can reach medicare medics at http://medicaremedics.com/ for more assistance and other loan modification situations.
Foreclosure is one thing we should try and avoid as much as possible. This is because of the effect it can have on our every other financial status. It is recommended that a way out is sought before it eventually comes so you can be credit worthy all the time you’ll need to get some things done. You can visit an avoid foreclosure company for help.