[Sarah]

I'm going through a foreclosure and i want to know if i still have to pay the mortgage anything after or during the foreclosure process? how will having a foreclosure on my record really affect me? can i still rent and get employed after?

[Pengy]

After it is foreclosed on of two things will happen
1. The lender will go after you for the difference of what was owed, and what it sold for
2. They will forgive the remainder and send you a 1099 which you will have to claim on your income tax (at the bonus rate of 36%) and owe taxes.
Either way your credit is shot and you will owe allot of money, better the mortgage company than the government since the government will have no problem, and take no time garnishing your wages

[braindamageblue]

I have never been through a forecloser myself, yet my best friend who lives with me has, hence the fact he lives with me!
As for paying during the process , call and ask. I don't think it really matters now that you being foreclosed if you make a couple of payments or not.

Does a forecloser affect you? Better believe it, He cant even rent an apartment, so he rents a room from me. His credit score from this is rock bottom now, Lenders look at him as high risk and interest rate for him are extremely high.

Always remember, when it comes to banks and lending offices you are only as good as your credit score, sad but true.