Foreclosures show up on your credit reports as 'negative entries', and they stay for seven years. During that time your credit scores will be dragged down. However, it may be possible to get loans - including a home loan - within a few years of foreclosure.
If you get a loan shortly after foreclosure, it won’t be on the best terms. See about refinancing your loan after several years if you’ve rebuilt your credit by responsibly paying on all your loans.
Return to the main page on factors that affect credit.
