What will a foreclosure do to my credit rating?

Foreclosures are extremely damaging to your credit, and may stay on your credit report for as much as seven years. A foreclosure can make it difficult to get a loan for a future home purchase, for college expenses or to even get a VISA or MasterCard. If the borrower is able to get credit, the interest rates will likely be higher. Even if you’re already facing foreclosure, there may still be options to minimize the damage to your credit. Contact the Customer Service at (877) 563-4164  or email customerservice@madisonmanagement.net to find out more.

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