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I really believe that a property foreclosures can have a major effect on the client's life. Real estate foreclosures can have a Seven to few years negative effect on a debtor's credit report. A new borrower who may have applied for a mortgage or almost any loans even, knows that your worse credit rating can be, the more tricky it is to secure a decent bank loan. In addition, it can affect the borrower's capability to find a really good place to lease or hire, if that will become the alternative houses solution. Good blog post.