Foreclosure – Credit Repair

Foreclosure is the process of taking possession of a mortgaged property as a result of someone’s failure to keep up mortgage payments.

This can happen when a homebuyer purchases a home on an Adjustable Rate Mortgage. If the client fails to repair or restore their credit and refinance the home before the mortgage rate adjusts, the homeowner may experience higher mortgage payments than usual.foreclosures are not something to take lightly. they are due to falure to pay mortgage payments and may result in not qualifying to purchase another home or even rent an apartment.

This may cause the homeowner to experience difficulty making monthly mortgage payments. Payments may begin being 30 days late. Eventually, 90 days late may result in foreclosure.

A consumer may not purchase a new home until a foreclosure has seasoned for 3 years. Foreclosures are a red flag to sellers, but with the best credit repair company you my be in luck.

Call Houston Credit Repair at 713-378-1500 for credit repair you can count on. Impeccable Credit Services can be found on social media as well. As seen on Instagram. Our weekly questions on Ask Impeccable feature real questions we are asked every day in the credit business.

Foreclosure and credit repair