Foreclosures and Bankruptcies and credit reports

Posted By Georgia Bell @ Sep 17th 2009 3:11pm In: General


2900577 - Residential
Seabrook Island, SC

NEW PRICE!! BEST PRICED HOME IN SEABROOK!!! This home is in IMMACULATE condition and is ready for you to move in! Check the comps - this is THE ONE to buy! Priced below true market value! This is a fabulous home overlooking the salt marsh with gorgeous views of the tidal creek from almost every room! An almost brand new home - the present owners bought it new as a vacation home and have only used it three or four times! Truly like a home that has never ever been lived in. The exterior is hardi shake, there are gleaming hardwood floors in living areas and berber carpet in the bedrooms. This home features a large, gourmet kitchen which is open to the great room and to the family dining area although it does have a formal dining room as well. There is a space for an elevator though it is currently finished as a closet. A fabulous screened porch overlooks the marsh as does the very large deck. Screened porch is large enough for an outside gas pit! The home is within easy walking distance to the crab dock and the boat launch. Club membership is a requirement of purchase. If square footage is important then MEASURE! Contribution to capitol PUD upon resale is 1/2 of 1% of sales price. Purchase of property also requires membership to the Club

How long do bankruptcies and foreclosures stay on a credit report?


The answer is that they can stay on a report for seven to ten years

Some lenders will be more leniant to borrowers more quickly if the borrowers have reestablished good credit. 

Another factor is the circumstances which surround the bankruptcy; If you went through bankruptcy because your employer had financial difficulties, a lender may be much more willing to work with you


However, if you went through bankruptcy because you were overextended in your personal credit lines and you were living beyond your means, the lender will probably not be as flexible with you

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