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Old 11-04-2009, 12:43 PM
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Default How much worse is it to have 4 foreclosures compared...

...to 1? A friend of mine has 3 rental properties that are all a few months behind on payments. He also has a home where he currently lives in that is also behind in payments. He was recently laid off and does not have money to pay the mortgage on any of these houses since they are all currently vacant. My question is if all 4 houses are foreclosed on how much more does it affect his credit than if only 1 house gets foreclosed on? Is it worse for his credit? Or will it affect him the same way since they will all go into foreclosure in about the same time?
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