I believe that a home foreclosure can have a major effect on the debtor’s life. House foreclosures can have a 7 to few years negative affect on a client’s credit report. Any borrower who have applied for a mortgage or any kind of loans for instance, knows that a worse credit rating is, the more complicated it is to get a decent bank loan. In addition, it might affect any borrower’s chance to find a quality place to let or hire, if that turns into the alternative houses solution. Great blog post.