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02-05-2009, 01:38 AM
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Foreclosure for first time buyer?
My sister in-law claims that for first time homebuyers if their home is forclosed it only goes on your credit report for 2 years? Is that right? She has put so much money into her home over the last years and the house is not worth anything, she's not too happy about that, she's thinking of letting if the bank take it back. How many years will it take for the housing market to go back up?
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