“ I do believe that a property foreclosure can have a significant effect on the debtor's life. Real estate foreclosures can have a 6 to several years negative influence on a debtor's credit report. A new borrower who may have applied for home financing or almost any loans even, knows that your worse credit rating will be, the more hard it is to get a decent loan. In addition, it may affect the borrower's chance to find a respectable place to lease or rent, if that results in being the alternative property solution. Good blog post. ”