In my opinion that a foreclosure can have a important effect on the borrower's life. Home foreclosures can have a Several to few years negative relation to a client's credit report. A new borrower that has applied for a home loan or virtually any loans for that matter, knows that the actual worse credit rating is, the more difficult it is to secure a decent bank loan. In addition, it might affect any borrower's capability to find a quality place to let or rent, if that gets to be the alternative real estate solution. Great blog post.