how much does a foreclosure bring down your credit score
If your credit score is excellent at 780, a foreclosure will drop your score by 140 to 160 points. In other words, the higher your credit score the more it will get smashed! High credit score holders must think much more carefully before foreclosing or conducting a short-sale. bad credit score will cause for much higher rates for a car loan you shouldnât get, a credit card you should sign up for, and a new property you shouldnât buy. Seriously ask yourself whether you can do without credit and have a black mark on your account for seven years before going into foreclosure.