How does foreclosure affect your credit?, and how long does it stay on your credit?

Asked by Jessie, Salinas, CA Sat Feb 16, 2008

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Pam Winterba…, Agent, Danville, VA
Sat Feb 16, 2008
Jessica.....

You could loose 150-200 points off your credit score and it will be on your credit report for 5 - 7 years. I would confirm this with a local mortgage brokier. Good luck.
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Kathy Carter, , Bergen County, NJ
Sun Feb 17, 2008
More recently I have seen some foreclosures removed from credit reports through some of these "credit scrubbing" services. I'm not sure how it works and to be honest I don't even know if it's legal. But I have seen it more than once within the last 3-6 months.
Web Reference:  http://www.Kathy-Carter.com
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