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Posted: Wed Aug 15, 2007 4:10 pm Subject: 2nd Home about to go into foreclosure

I have a second home that is about to go into foreclosure. My credit score is currently excellent. How will this affect my score? I have tried to reach out to the bank but to no avail..

Posted: Wed Aug 15, 2007 4:38 pm Subject:

You have to save your house from getting into foreclosure. If this happens, their will be a dent on your credit report for the next seven years. You will still have to pay the outstanding balance. At this stage, you need to work out arrangements with the bank by explaining your situation. In case you are unable to fix this, speak to a debt management company for working out a plan.