Foreclosure - how will it affect score

[carajul]

My current FICO is 780. I have 2 unsecured lines of credit I use on occasion equalling $100,000 available credit. I have 3 mortgages. I have 1 car loan. All perfect.

If I default on one of my mortgage and it ends up foreclosure, what can I expect my FICO to drop to. Also, if all my other accts stay good and no other bad items, how long will it take for my FICO to get back to at least high 600s.

[chane]

Originally Posted by carajul

My current FICO is 780. I have 2 unsecured lines of credit I use on occasion equalling $100,000 available credit. I have 3 mortgages. I have 1 car loan. All perfect.

If I default on one of my mortgage and it ends up foreclosure, what can I expect my FICO to drop to. Also, if all my other accts stay good and no other bad items, how long will it take for my FICO to get back to at least high 600s.

It's really hard to say how many points it will go down. I would think about a hundred points or so, but that's really just a guess. Do whatever you can to not let it end up in foreclosure.