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I think that a foreclosed can have a major effect on the borrower's life.
Real estate foreclosures can have a Six to few years negative impact on a client's credit report.
A new borrower who has applied for home financing or just about
any loans for example, knows that the particular worse credit rating can b,
the more difficult it is to acquire a decent mortgage loan. In addition, it might affect the borrower's capability
to find a good place to let or hire, if that results in being the alternative real estate solution. Great blog
post.