Most people understand that our credit scores affect our daily lives. Generally, it is difficult to get a loan or obtain a credit card without decent credit. If a person's credit score is low, he or she may be able to get a loan but the interest rate may be unreasonably high. The lender may even add some creditor-friendly clauses into the lending agreement that otherwise would not typically be present.
If you're going through the foreclosure process, it's important to know how your score will be affected and for how long. Then you can take the necessary steps going forward to get back on track in the shortest time possible.