 TITLE: Can I Get a Foreclosure Removed From My Credit Report? CONTENT: How Much Does a Foreclosure Affect My Credit?\n---------------------------------------------\nScoring systems used by both FICO® and VantageScore® consider foreclosure a derogatory event. And while the impact to credit scores will vary by consumer, it's safe to say that a foreclosure can be very problematic.\nThe foreclosure itself, as well as the late payments that preceded it, will have a major impact on your credit scores—especially if your scores were high to begin with. If your score is on the high end of the scale, you may see a much more significant impact than someone whose credit score is lower.\nIn addition to a foreclosure's potential impact on your credit scores, it may also cause you to face consequences due to mortgage policies published by Fannie Mae and Freddie Mac. You may not be eligible for either a Fannie Mae- or Freddie Mac-backed loan for several years if you've gone through a foreclosure. This penalty is called a mandatory waiting period, and it may freeze you out of the homebuying market for as long as seven years regardless of how well your credit scores have recovered. END