What Happens After Foreclosure?
What happens to your credit after foreclosure? Millions of Americans have already gone through foreclosure or are facing foreclosure proceedings. How do you recover from foreclosure? Your credit score will definitely take a substantial hit, and that will take a long time to recover from. It may be several years before your credit recovers and you can get financing for a new mortgage. While you are waiting, take the time to rebuild your credit score after foreclosure.