How bad is a foreclosure on your credit and how can I best avoid it?

foreclosure
Donald B asked:

I am not in foreclosure yet, but I recently lost my position and we have very little savings so I don’t know that I will be able to save my house. We just got into our home in July and then my company lost a major account and I was out of work. I am doing sales now, but that is commission based and slow to pay. I have no equity in my home per se, and i live in California. I guess I’m wondering with the market the way it is, it might be better to walk away and try again in a few years.

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If a bankruptcy is discharged is that good or bad for your credit rating?

bankruptcy
randyxd asked:

I filed for bankruptcy in 1998. Recently in my credit report there was a public notice saying it was discharged.

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How to finance a new Mustang with bad credit and low down?

finance
Ronaldo Giggs asked:

Any ideas? I make good money, nearly 3-4 thousand dollars a month. But I’m self employed and have collections because of past medicals. Does Ford Motor finance people like me? I talk to dealers here and they try to take 3-4 thousand down to switch me to a 2002 escort.

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