What does foreclosure do to your credit?

Question

What does foreclosure do to your credit?

Answer 1

sets you "free" to pursuit a nomadic lifestyle as God intended. Freedom from complications in this world. Total bliss.

Answer 2

Forclusure trashes your credit.  But, only for a little while if you get right back into rebuilding your credit.

Most can get a mortgage within 3 years after a foreclosure if they rebuild.

Answer 3

Foreclosure drops your credit score and stay on your credit report for 7 yrs, making it hard to get credit or if your do, you end up paying very high interest rates. Foreclosure has a serious impact but honestly it's not as bad a filing for Bankruptcy.

Answer 4

pretty much drops you to the beginning or as they said in die hard 4 knocks you back to the stone age

Answer 5

Imagine Wile E. Coyote falling from a cliff holding an ACME anvil.

That is what will happen to your FICO score.