Does conventional loans that are in foreclosure need to be reported to credit repositories?
Question:
Answer:
Yes, and they will probably submit them to all the bureaus, Experian, Equifax,& Transunion. Also, if you are in Foreclosure you do know that you have time to redeem the property back. It is called redemption period. Depending how far you are in the foreclosure stage and if you have any equity in your home you may be able to refinance yourself out of that foreclosure and keep your home. Of course the interest will not be pretty, but you may be able to save your home. Check with your local mtg. brokers. If you are in Michigan or Florida, I may be able to help. Just give me a shout by email if you wish.
Yes.
You'd better believe they will/should be.
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