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How low can a credit score get?

My husband's credit score is at about 600 (It use to be 750 a few years ago = ( ). Our house is now in foreclosure. After the foreclosure, about how low do you think it will drop? How long will it take to rebuild credit?

Answer Question

Asked by Anonymous at 6:36 AM on Nov. 30, 2010 in Money & Work

Answers (11)
  • Zero?

    Answer by Zoeyis at 6:43 AM on Nov. 30, 2010

  • Pretty low not gonna lie id kill for a 600 credit score but it'll probably take a good couple years to rebuild

    Answer by Heidikans at 7:04 AM on Nov. 30, 2010

  • I do believe it is 350.

    Answer by ashisamom at 7:10 AM on Nov. 30, 2010

  • Credit is easy to maintain, it's easy to drop, but rebuilding it is the hardest part. Good luck!!

    Answer by AtHomeMommy-3 at 7:42 AM on Nov. 30, 2010

  • Shoot, to answer your question: FICO reports from 300 to 850 anything that calculates to below 300 defaults to a 0.

    Answer by AtHomeMommy-3 at 7:50 AM on Nov. 30, 2010

  • It can take YEARS to clean up your credit and as soon as your foreclosures is on your credit report, it will affect it.

    Answer by tyfry7496 at 8:11 AM on Nov. 30, 2010

  • Probably will drop to the 300s and will take several years to get back to the mid 600s. Right now banks want to see a 720 for the best rates used to be lower so it will be a while before he has even decent credit.


    Answer by Anonymous at 9:52 AM on Nov. 30, 2010

  • You can have a 0.

    Answer by slw123 at 11:00 AM on Nov. 30, 2010

  • Everyone starts out with 0 and moves up from there. A foreclosure will stay on your credit reports for 5-7 years, so it would take at least that long to repair your score.

    Answer by HotMama330 at 11:15 AM on Nov. 30, 2010

  • The foreclosure will drop our credit score, though it might not bottom out.
    The FICO credit score ranges from 300 to 850. The VantageScore score can be between 501-990.

    The further away you are from the foreclosure the less of an effect it will have on your credit score. Though it will probably bring your score down 5 years from now, it won't be as dramatic as it is the day after you foreclose.

    If you can, it would be better for you guys to try and do a short sale without recourse. It will still damage you credit score, but not as bad as a foreclosure.

    I'm so sorry you guys are going through this. Hopefully things will get better for you soon!

    Answer by Erica_Smerica at 1:31 PM on Nov. 30, 2010

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