will it effect our credit status buying a repossessed house?

5 Answers

  • Anonymous
    1 decade ago
    Favorite Answer

    No. There is no linkage attached to this transaction at all.

  • godged
    Lv 7
    1 decade ago

    Of course not. The previous lender defaulting has nothing to do with you, the house, or your credit score.

    Source(s): Oregon Realtor
  • dymond
    Lv 6
    1 decade ago

    As long as you make timely payments and get a good low interest rate it will only improve your credit rating.

  • npk
    Lv 7
    1 decade ago

    No. The fact that it was previously foreclosed has nothing to do with you.

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  • 1 decade ago

    Not in a negative way

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