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Ever gone through foreclosure?

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07-06-2009, 07:02 PM	#1
Chordata Blu-ray Knight Member since:Jan 2009 Location:Home of N'Sync and the Backstreet Boys Blu-ray collection:75 Blu-ray reviews:2 Trading Score:1	Ever gone through foreclosure? I don't do real estate, but a guy I know was talking about taking a foreclosure instead of paying his mortgage, since he's upside down. What are the drawbacks? Does it affect your credit? Can you ever buy again? Do you need to file for bankruptcy to be "eligible" (if that's even an issue)? Just curious if anyone here has been involved in one.

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