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Foreclosure, a situation in which your lender takes the ownership of your house and sells it to recover the debt you owe on your mortgage.On an average, the drop due to the foreclosure depends on the current credit score you are having. If your credit score is 680, the drop will be 80-105 points and if the credit score is 780, the drop will be 140-160 points. To say, in short, higher your credit score is, bigger will be the drop.

Here is a detailed guide How your credit rating is affected by foreclosure?

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