How much does a foreclosure lower your credit score?

Excellent credit score but foreclosure on record, Can I buy a house?

  • I have a 720 credit score and foreclosure on my record that is 14 months old. Any info will be greatly appreciated. Thanks!

  • Answer:

    Once that foreclosure is on record...your credit score will take a 100 - 150 point drop. The only way you can buy a house with that score (600 - 570) is with cash. PS..and excellent credit score is above 800. 720 is good...but still far from excellent.

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Something isn't adding up here. A score of 720 is next to impossible with a foreclosure as recent as one year ago.

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