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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 Notice of Default starts the official foreclosure process. This notice is issued  30 days after the fourth missed monthly payment. From this point onwards, the borrower will have 2 to 3 months, depending on state law, to reinstate the loan and stop the foreclosure process.