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According to the Fair Credit Reporting Act (FCRA), a home foreclosure can stay on your credit report for up to seven years. The clock starts when the bank files the notice with the court. Soon after this, the event will be reported to all three of the credit-reporting bureaus -- TransUnion, Equifax and Experian.
But I think you are confusing two types of liens here, a mechanic's lien and a tax lien. Once a mechanic's lien is recorded, an action to foreclose on the mechanic's lien must be filed within 90 days. Technically, the mechanic's lien does not automatically go away, just the right to foreclose expires.