real estate


Question by  nicole7257695 (15)

How long does a foreclosure stay on your record?


Answer by  flamiss22 (5081)

Ususally foreclosure is like a bankruptcy it stays on your record for seven to ten years. To help minimize the damage request an explanation form from all three credit bureaus. Explain what happened and what steps you are taking to correct it. Have it attached to your file so when someone pulls your file the explanation will be readily available.


Answer by  carter4houses (8)

Foreclosures tends to stay on your credit report for seven years. However it could be on longer because it's public record, which is available for up to 20 years.


Answer by  SandyG (807)

Your credit report record will show late house payments, missed house payments, and then foreclosure. If you are still in the process of foreclosure, check for non-profit or government help to save your house. Once in foreclosure, it will be on your record for 7 years.


Answer by  Devin98 (487)

A foreclosure stays on your credit report for the tyical seven years. The foreclosing bank may renew for another ten years if they chose to do so as with any lien holder.


Answer by  chickira (67)

Foreclosures usually stay on your record for seven years. It is the rule of 7. Most negative impacts, like bankruptcy, defaulted car loans, etc. all stay on your credit for 7 years.

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