What Happens After Foreclosure? Rebuilding, Credit Repair, and Recovery

If you’ve already lost your home, it’s not the end. Here’s how to move forward:

Check for Surplus Funds First, see if you’re owed money. Mercy Management can file claims and retrieve funds you may not even know exist.

Credit Impact & Timeline Foreclosure stays on credit reports for seven years—but its impact softens over time. Keeping up on current bills and loans matters more going forward.

Next Steps for Housing Whether you rent or buy next, aim to rebuild credit. Consider a secured credit card or small installment loan and always pay on time.

Financial Rehab Use recovered funds to:

• Pay down high‑interest debts

• Build a small emergency fund

• Refinance student or auto loans

• Invest in a secure future

Mental and Emotional Well‑Being This process is stressful. Counselors can help. You’re not alone, and communities exist to support you.

Mercy Management’s role doesn’t stop at recovery—we connect you with trusted resources to help you rebuild.