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Foreclosure Process
#1
The foreclosure process is a long time consuming process. If you can no longer afford to live in your home and any workouts with your mortgage lender has failed and a foreclosure is imminent, you may want to consider going through a short sale with the mortgage lender approval or a deed in lieu of foreclosure. Foreclosure process can take many months if not years to finalize. Here is a detailed article on the foreclosure process that might help:

http://gustancho.com/foreclosure-process/

 
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#2
A recent foreclosure can plummet your credit scores by almost 200 FICO points. However, the credit score drop is a temporary setback and your credit scores will slowly but eventually go back up. Re-establishing your credit is extremely important if you want to qualify for a mortgage loan after foreclosure. The fastest, easiest, and quickest way of boosting up your credit scores and re-establishing your credit after a foreclosure is by getting 3 to 5 secured credit cards. Here is an article that might help you on re-establishing your credit after foreclosure.

http://gustancho.com/re-establishing-cre...reclosure/

 
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