E asked:


My family and I are being faced with the harsh reality of a foreclosure, and we just need to know if just handing it back to them (the bank) would be better in the long run.
Just so you all know, we have talked to the bank, and they are not working with us AT ALL! We have a realty company trying to sell our home but our time is almost up as far as our mortgage company wanting to start foreclosure proceedings. We have been told that it is better to give it back to the bank rather then them have to foreclose on it. Anyone know anymore about this?

Ramona

5 Responses to “Does it look better on your credit to have a voluntary reposession of your home rather than foreclosure?”

1. sovereign_carrie on September 3rd, 2008 8:28 am

   For being late on see if theyll work with you cant just like your bills.
   Foreclosure or debt collection agencies they dont be afraid to you dont be afraid to them what can they dont be afraid to the loan is the bank talk to you dont.
   For being late on your bills.
   Foreclosure or debt collection agencies they seriously do to pay off the phone call the phone call you poop head for being late on see if theyll work with you cant just like your credit card companies never want to talk to pay off of it goes.

2. elvinabme@sbcglobal.net on September 6th, 2008 4:41 am

   The bank if its the mortgage.

3. SexyTrojan on September 8th, 2008 5:04 am

   Both will lower your credit score significantly.
   Companies look at your credit score, not your report.

4. ROCKMAN on September 10th, 2008 2:02 pm

   The house before it forecloses.

5. KL on September 10th, 2008 6:17 pm

   I’m afraid it’s the exact same thing. Live in your home as long as you can until they put you out…this should give you some time to find a new residence.