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Dearborn Michigan Foreclosures
Possible Homeowner Foreclosure Repercussions |
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Special Report:
Repercussions of letting your Dearborn area home to go foreclosure
Please note that all foreclosure information provided is not
guaranteed and is not intended as legal advice. You should seek qualified legal/financial counsel to explore all your options and obtain official legal/fincial
advice from qualified legal/financial professionals regarding
possible repercussions of letting your home go to foreclosure.
What is a foreclosure?
When an entity like a bank repossesses a home (generally due to non-payment of mortgage) and is now the owner of the home. There
are other entities that can foreclose on a home for other reasons such as (but not limited to) non-payment of property taxes.
How much will a foreclosure affect my credit score?
There really is no cut and dry answer as your credit score actually consists of many, many variables that all come into play. It will definitely
affect your ability to get a mortgage in the future as you will have to wait for a period of years before being able to obtain a new mortgage. Mortgage program requirements/guidelines are contstantly
changing so even if you get an exact answer today from a reliable mortgage lender regarding future financing after a foreclosure, everything can change in the years to come.
Can my bank(s) pursue me for money owed after they foreclose?
Yes, it is
possible that your mortgage lender(s) may come after you for the money you owe/owed them.
You might even get a 1099 for your bank(s) losses as it might be considered as income for you. Always seek the advice
of a qualified tax professional regarding this issue. Steve Hatfield is NOT a tax professional.
There is no doubt that if you let your home go to foreclosure it IS going to affect your life in some way or another.
Keep in mind that if you "just walk away", that doesn't necessarily mean that
it is over and done. A foreclosure can possibly come back to haunt you for many, many years to come.
IMPORTANT!
The above is NOT legal or financial advice. Always seek the advice/counseling of a qualified attorney/financial advisor before letting your home go into foreclosure. Steve Hatfield is NOT an attorney or financial advisor.
Have a real estate question?
Ask Steve!
Be a savvy home seller and make sure you pick the BEST Realtor® to market your home!
Steve Hatfield has the...
Experience, marketing services and qualifications to get your home sold!
Honesty, sincerity, professionalism, results!
Contact Steve if you are thinking about selling your home!
Specializing in residential home & condominium sales in Dearborn, Dearborn Heights, Livonia, Canton, Plymouth, Northville, Novi, Farmington, Farmington Hills, Allen Park, Southgate, Taylor, Wyandotte, Trenton, Brownstown, Woodhaven, Garden City, Westland and Redford Michigan since 1987
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REALTOR® ABR, CRS, e-PRO Certified
CENTURY 21 Curran & Christie
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
Contact Steve Now
Michigan Real Estate Salesperson #6501221773
Licensed Realtor® Since 1987
   
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Steve Hatfield, Realtor® provides real estate / home buying and selling services in Dearborn Michigan, Dearborn Heights Michigan, the Wayne County MI (Southeast Michigan) communities of Redford, Westland, Garden City, Livonia, Canton, Plymouth, Northville, Allen Park, Taylor, Southgate, Wyandotte and the Oakland County cities of Farmington / Farmington Hills and Novi Michigan. | |
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In accordance with the law, the properties, real estate services and homes for sale featured on this web site are offered without respect to race, religion, color, creed, national origin, sex, physical limitations / disabilities or familiar status. |
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REALTOR® is a registered collective membership trademark that identifies a real estate agent / professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict code of ethics.
Century 21 Real Estate Corporation © and sm trademark and servicemark of Century 21 Real Estate Corporation. Equal Housing Opportunity. Each office Independently Owned and Operated.
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Copyright © 1996 - Steve Hatfield
COPYRIGHT NOTICE:
Graphics and content may not be reproduced or copied in any way with out written permission
from Steve Hatfield. Persons or companies found to have stolen content and/or graphics from this web site will be
prosecuted to the full extent of the law for copyright infringement.
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Special REPORTS: 
