According to research, a foreclosure can drop your credit score by as much as 140-180 points.
It’s just a number…what does that matter?
Imagine trying to rent an apartment and being told your credit score is too low. Imagine trying to buy a car and being told your credit score is too low. Imagine going to renew the insurance on your car and discovering it is 25-50% higher because of your cedit score.
It is more than a number. It is a tool companies can use to deny you things you want or charge you more for them.
Avoid foreclosure if at all possible.
