How a Foreclosure or Bankruptcy Affects Your Credit Score

When Todd Huettner's clients came to him hoping to qualify for a mortgage, their credit score was in the mid-700s, the sweet spot for lenders, who are looking for borrowers who are likely to pay their bills on time. Huettner, principal at Huettner Capital in Denver, is an independent mortgage broker who has helped people navigate the unpredictable straits associated with obtaining a mortgage. But these clients had a particularly bad patch to deal with: