By almost any measure a completed foreclosure is the most damaging event your credit status can encounter – worse than bankruptcy. A foreclosure on your credit record will negatively impact your ability to borrow money for years. For most people, it is well worth the time and effort to solve the problem before the foreclosure is done.

A property foreclosure is one of the most damaging events in a borrower's credit history. In terms of the effect on credit history, a deed in lieu of foreclosure or a short sale is not as adverse an event as is a forced foreclosure. See similar questions...

When property is mortgaged, the property is transferred to a creditor to be used as secured collateral on a loan. The individual exchanging the property for the loan becomes the mortgagor, and the creditor acquiring the property title becomes the mortgagee. If the mortgagor defaults on the loan payments associated with the mortgage, the creditors can take legal action to enforce a mortgage against the property and prevent the mortgagor from keeping the property. See similar questions...

Yes. We can work with your lending institution to delay or stop the trustee sale while we negotiate with them to purchase the home. There are no guarantees that the lending institution will cooperate; however, we will do everything we can to save the home and your credit. If you're in foreclosure, you've got nothing to lose and everything to gain. See similar questions...

Yes, we have worked with a lot of homeowners in foreclosure and have been able to stop the auction and keep it off their credit report. See similar questions...

No. Almost everyone who has fallen behind on house payments has had some credit problems in the past. Our goal is to help everyone, regardless of credit. See similar questions...

Real estate tips from Derek Ebrecht of GREEN LIGHT REALTY. Information is provided by "It's Time to Move Up", the real estate resource for consumers who want their questions answers in ways they can understand. Derek specializes in foreclosure homes and foreclosure homes only. See similar questions...

Answer: When a property is in pre-foreclosure (NOD, LIS), the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. The pre-foreclosure period can last several months, so you may need to be patient when trying to contact the owner in default. See similar questions...

If you receive a Release form, you are eligible to receive a payment under the Settlement. However, participating in the Settlement and receiving a payment will NOT stop or undo a foreclosure. If you choose to participate in the Settlement, you must sign and return the Release form. In doing so, you give up various legal rights (listed on the Release form), but you do not give up your right to raise any rights and defenses in a foreclosure action. See similar questions...

A forclosed property auction is like any other auction - property is sold to the highest bidder. Remember, you are going to be bidding against other potential investors. So prepare in advance and know how much the property is really worth and you'll end up with the most profit. See similar questions...