“ In my opinion that a foreclosure can have a major effect on the borrower's life. Property foreclosures can have a Six to ten years negative impact on a client's credit report. Any borrower that has applied for a mortgage or any kind of loans for instance, knows that the worse credit rating will be, the more tough it is to obtain a decent personal loan. In addition, it could possibly affect the borrower's capability to find a decent place to lease or rent, if that results in being the alternative property solution. Interesting blog post. ”