Letting a property go from unpaid taxes and credit consequences

[Branden Vandette]

I made a bad investment on a cheap warehouse in Detroit for my  landscaping business. I paid for in cash for 20k 4 years ago. It's in a very bad area and it got broken into a couple of times. Not feeling safe I moved out and let it go without paying taxes, electricity or the water bill. Now I want to get into real estate investing  and I'm worried about the marks on my credit score. I've never got a loan or checked Fico score before but I've looked it up on credit karma and it wasn't on there. If the city takes it and sells it for the money I owe will it still go on my credit report?

[Jay Hinrichs]

@Branden Vandette property tax's wont hit your fico.. but I don't know about utl bills if the property was in your LLC name then it would not affect you personally.

I have seen some very large water bills in my days in Wayne county... they were liens not sure they are picked up by FICO... someone local there could probably tell you or a lender could tell you.

@Account Closed not exactly correct on FICO and private or HML.. most will run credit and make a determination on your credit strength.. not all but many so its not a blanket statement that can be made.