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Myth #1: Get the Facts on Foreclosure

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Published on Mar 17, 2011

Welcome to the first video in our series, Get the Facts on Foreclosure, to help you separate fact from fiction. In this video we examine the myth that if you lose your home to foreclosure, you'll never be able to buy a home again and your credit will be ruined forever.

While a foreclosure can impact your credit rating for as long as seven years, it does not mean you will never be a homeowner again. It may take a few years to qualify for a mortgage, but it can be done with some effort and planning.

Watch the next video in our series where we address the myth that you should stop making your mortgage payments to get assistance.

For more resources on getting help with your mortgage, visit http://www.freddiemac.com/avoidforecl...

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