Legal Question in Real Estate Law in California

A foreclosure generally stays on a credit report at least 7 years.

In order for the foreclosing lender to put a lien on other property that you own, the lender must sue you and get a deficiency judgment. A foreclosing lender is not entitled to a deficiency judgment after completing a nonjudicial foreclosure through the exercise of the power of sale at a trustee's sale. The lender would have to file foreclosure action against you, and the home would to be exempt from the purchase money anti-deficiency protections of Code of Civil Procedure section 580b to entitle the lender to a deficiency judgment.

Mr. Roach is correct that a foreclosure stays on credit reports for seven years. However, it starts having less effect on your credit rating calculation after a year and continues to be a smaller part of the calculation each year thereafter.