How long does it take to recover credit from foreclosure/deed in lieu?

Question: Michigan property depreciation has burned me, but I've been blessed with a new job and a chance at a new life out of state. I'm current on all my credit card payments and car loan, never have been late, but I'm concerned now that this foreclosure will hurt me into the far future.

Answer:
Typically you will need to maintain a near perfect credit record for 12-24 months. This would allow you to build up a good record that you can try to outweigh the foreclosure.

The foreclosure will still be on your report but with a good recent record it can be overcome.

Here is some more information on repairing your credit:
http://www.afscanhelp.com/blog/2007/4/ho...

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