Falling behind on your mortgage can happen for several reasons, Unemployment or illness can cause you to fall behind on your payments. If you fall too far behind, your bank could perform a foreclosure. A bank will take possession of your home and you will have to move if a foreclosure isn’t taken care of. Atlanta Credit Counseling can help you with your foreclosure problems. We can help you with your foreclosure. Let our team negotiate with your bank so you can keep your home. We offer a variety of foreclosure services that will help you stay in your home. Feel free to email or call our customer service team today
What is a Foreclosure?
A foreclosure occurs when a homeowner can no longer make their payments. Foreclosure can happen to anyone who falls behind on their payments. Losing a job, medical bills, excessive debt and divorce are common causes of foreclosure. Once a home has occurred it can be very difficult to stop. You should seek legal assistance right away during a foreclosure. We can help you understand the process and keep communication open with your lender. Our team will help you during the entire foreclosure process.
Will a foreclosure damage your credit?
A foreclosure can be devastating to your credit score. Your score could drop over 160 points once a foreclosure hits your credit report. This could hurt your chances of being accepted for future loans. Any new loans will be at higher interest rates and you will also be required to put down larger down payments. A foreclosure will be on your credit report for at least seven years. Are you missing payments? This can also affect your credit score. We can help you get your payment schedule back on track.
There are several programs available to help customers who are in foreclosure. The government offers a variety of programs that can help you avoid foreclosure. Atlanta Credit Counseling can help you pick a program that works for you and your bank. We offer foreclosure help and counseling. Our team will guide you through the process and help you choose the best course of action during your foreclosure. We can keep communication open with your lender to ensure you meet all their requirements. Let our team help you save your home today. Give our customer service team a call if you need foreclosure assistance.
Foreclosure credit repair
A foreclosure will be devastating to your credit score. You can lose between 80 – 160 points overnight if you have a foreclosure on your credit report. The foreclosure will stay on your report for up to seven years as well. We advise you limit your credit during this time and begin a rebuilding process. Our team can guide you through rebuilding your credit to a good level. In the future you’ll be able to apply for new loans and lines of credit. If you need credit help after a foreclosure, don’t hesitate to give our team a call.