A foreclosure has a real, lasting impact on your credit — here’s what that actually looks like and how long it lasts.

The immediate impact

A completed foreclosure can drop a credit score significantly, often more than a bankruptcy in some scoring models, and it’s reported to all three credit bureaus.

How long it stays on your report

A foreclosure typically remains on a credit report for seven years from the date of the first missed payment that led to it, though its impact on your score lessens over time.

What helps afterward

Rebuilding involves the same fundamentals as any credit recovery — on-time payments on remaining accounts, low balances, and time. Some homeowners qualify for a new mortgage again in as little as three years with a strong recovery record.

If you’re weighing foreclosure against selling now, the credit impact alone is often a meaningful reason to explore a sale first — talk to a housing counselor about what fits your specific situation.