Millions of consumers are feeling the impact of the seven-year timeframe in the wake of foreclosures after job losses, pay cuts or other setbacks from the last downturn. To figure out when a negative mark is due to be dropped, borrowers can check their credit reports from each of the three firms, which they can do free once every 12 months at annualcreditreport.com. The reports will list the year the negative event was recorded.
Here are some pointers on how to increase your chances with mortgage lenders if you have a black mark on your credit record.
Read more on the Wall Street Journal blog.