I have a question regarding foreclosure and credit.
Is there much of a difference in how your credit report is impacted by being late 2 months vs. being late 3 months in a row? And let’s assume (since that usually is the case), that you technically are in default at 3 months (when the NOD is normally filed). Does that hurt the debtor’s credit any more significantly than being 2 months late with no NOD yet filed? Does the NOD put a big black mark on your credit or not really?