How does Foreclosure Affect your credit?

We have had a lot of clients ask us about how a Foreclosure affects their credit. We don’t have the full answer for that yet. If you have been in foreclosure and know how this affected your overall credit score please let us know. This article by Bill Bronchick gives us some insight on some credit questions. " What Information is on My Credit Report and How Does it Get There? Your credit report has "headers," which contains information about your addresses (every one they can find), phone numbers (even the unlisted ones), employers, social security number, aliases and date of birth. This information is usually reported by banks and credit card companies that report to the credit bureaus. Some information comes from public records. TIP: Don’t give your unlisted address or phone number to your credit card companies or it will end up on your credit file. Your credit report also contains a history of nearly every charge card, loan or other exte...