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Subject:  foreclosure questions Date:  12/12/2010  1:33 PM
Author:  explorer1999 Number:  299954 of 312187

First let me thank you all for the help I have received from you all.

I am defaulting on my second loan (20% of the loan) on a rental property . It is an interest no principal loan. I will not be able to pay the 33k when the loan matures. I have tried everything with the mortgage company but they will not modify etc.

Here are my three questions:

How will this effect my credit?

How long will this effect my credit?

How many points will this effect my credit?

Again thanks again. If you do not know the answer please point me in the right direction.

Happy Holidays
Merry Christmas
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