Would a Foreclosure Really Affect My Credit Score?


Yes, Virginia.  A foreclosure would significantly affect your FICO credit score, as would missing a payment or maxing out your credit cards.This post at The Mortgage Reports shows graphically how your FICO scores can be affected.

Max-Out A Credit Card

  • Starting score of 780 : 25-45 point drop
  • Starting score of 680 : 10-30 point drop

30-Day Delinquency

  • Starting score of 780 : 90-110 point drop
  • Starting score of 680 : 60-80 point drop

Foreclosure

  • Starting score of 780 : 140-160 point drop
  • Starting score of 680 : 85-105 point drop

Read more here.

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About rereno

Real estate investor
This entry was posted in credit, Foreclosure and tagged , , , . Bookmark the permalink.

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