Here’s a good article on Los Angeles Times of distressed homeowners who are behind in their payments, confused of refinance, foreclosure and letting bank taking over their properties, what will all these procedures differ? What should one do? And most importantly, what each action will affect your credit scores? After all, living in America, your credit scores probably is THE MOST IMPORTANT THING in your life. It’s like your debtors can see through you with naked eyes.
Please take a moment reading the article. It got lots of information that you should know in today’s mortgage lending business.