It's my opinion that a property foreclosure can have a major effect on the client's life. Home foreclosures can have a 6 to several years negative effect on a client's credit report. A new borrower who have applied for a mortgage or almost any loans for example, knows that your worse credit rating will be, the more tough it is to acquire a decent mortgage. In addition, it could affect a new borrower's capacity to find a quality place to let or hire, if that will become the alternative real estate solution. Interesting blog post.