How bad is a house foreclosure?

my husband and i have had our home for 2 years now and in april our payment went up and we have had other bills pop up aswell we have never gone bad on our loan but we are afraid it might happen or just not be able to pay other bills we have no money left after paying everything and thats if everything got paid we have a plan to get out of our financial trouble by moving back in with my mother and sharing he bills together this helps not just us but m mother aswell saving everyone from financial hardship the problem is getting ride of our home without making are credit go bad is foreclosing that bad on your credit or does anyone knwo someone that wants a house ofr 173,000 right now? please help!!!!!!!!!!!!!How bad is a house foreclosure?
Creditors look at a foreclosure like a felony. It is a serious offense in the bank's eyes. It will show on your credit report for 10 years or more. Sell the house if you can, foreclosure is as bad as a bankruptcy on your credit report.How bad is a house foreclosure?
idk sorry i can't help u
Contact a realtor and get it on the market. A foreclosure on your record will haunt you for 7 to 10 years easily. Better to sell it than to have it on your credit report.



Best of luck.
It is very bad and will ruin your chances later on with trying to get another home. The least it will do is cause your new mortage co to make you pay pmi plus a hefty interest rate. Try selling it at what you owe and walk owing and gaining nothing. Also see if you can rent it for the time. Good luck
very very bad...you should list it for sale ASAP. Better for you to sell it than the bank out from under you..good luck.
no way, put the house up for sale, ask the bank to take a short pay if necessary, but foreclosure stays around along time. It effects your credit scoore huge. Try getting a pt job for the amount your payment went up, call the lender and see if they can lower your rate to compensate for the increase. Get on it, be proactive.
A foreclosure is not something to take lightly at all. In certain states you are required to pay the attorney fees and any monies that your lender lost between the loan balance and the amount that they received.



Find a great agent that knows about short sales potentially as well and find out how much your home is worth now. Get it on the market as soon as possible and try to avoid this catastrophic event.



Ensure that you have a sellers net proceeds to look at. Make sure that you either have enough with the projected sales price to break even or that you have enough money in the bank to bring some to the table with you.



Good luck!