How long do bankruptcies and foreclosures stay on a credit report?

Bankruptcies and foreclosures can remain on a credit report for seven to 10 years.  Some lenders will consider a borrower  if they have reestablished good credit.   The circumstances surrounding the bankruptcy can also influence a lender’s decision. For example, if you went through a bankruptcy because your employer had financial difficulties, a lender may be more sympathetic.  However, if you went through bankruptcy because you overextended personal credit lines and lived beyond your means, the lender probably will be less inclined to be flexible.

November 8, 2010 | Categories: Charlotte Area Real Estate, Keller Williams, Lake Norman Real Estate, NC Forclosures, Real Estate, Terrie Fink | Tags: Agent, bank-owned, Broker, Buyer’s Agent, cash-buyers, Charlotte, Charlotte Area Real Estate, Charlotte Real Estate, Concord, Condos for Sale, Corcord NC, Cornelius, credit, Davidson, Denver, Events, Family, FHA, financing, For Sale By Terrie Fink, Foreclosure, Health, Homes For Sale, HUD, Huntersville, Hutersville NC, investments, Kannapolis, Kannapolis NC, Keller Williams, Lake Norman, Lake Norman Area Real Estate, Lake Norman Homes for sale, Lake Norman Land for sale, Land For Sale, Life, Listing, loan, Mooresville, NC, News, North Carolina, owner-financing, pre-forclosure, private-lender, property-management, Real Estate, real-estate-investing, Realtor, REO, residential, Search for Homes in the Charlotte Area, Search for Homes on Lake Norman, Seller’s Agent, Sherrillis Ford, Sherrills Ford, Short Sale, Terrie Fink, Thoughts, Travel, Troutman, wholesale | Leave a comment