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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.
The mortgage company foreclosures on the person, depends upon the state where the person live. Generally the foreclosure process takes time from 12 -18 months. They start by sending the notice to the person after 90 days. After that the bank provides a deadline to him so that he pay the loan off. If he is unable to pay, he is taken to the court. The judge will issue the judgement against him for forclosure.