Negative products just stick to your credit file for seven years, if you are able to keep your entire records in good standing for the long, your credit will be cleaned clean. Usually the one exclusion is just a Chapter 7 bankruptcy, that may remain on your report for approximately 10 years.
You do not have even to attend that really miss your credit to recoup. The worst effects of the item that is negative your credit history start to diminish after couple of years, so that your score will quickly enhance when this occurs.
Despite having a foreclosure or bankruptcy on the record, you do not always need to wait seven years to have a home loan. You will be approved for the traditional Fannie/Freddie home loan in as low as couple of years following the discharge of the Chapter 13 bankruptcy, plus one year for an FHA or VA loan.