One of the most common questions people have is how long a foreclosure is going to stay on the credit report. The good news is that foreclosure does not stay on someone’s credit report forever. If someone suffers a foreclosure, this is going to be reported to the three major credit bureaus which are Experian, Equifax, and TransUnion. If the foreclosure is legitimate, then it cannot be removed until the full credit reporting lifecycle has been completed. This means the foreclosure is going to stay on the report for seven years.
When the seven years are up, the foreclosure will be removed automatically. There is no need to contact the bureau and ask for it to be removed. Until this time, people might find that they will have trouble getting a loan for another mortgage because of what happened. For this reason, it is important to fight the possibility of foreclosure.