[topceojoe]

...the lender will report that foreclosure on ur credit report?

[ctknight9]

Immediately.

[JoelKatz]

Assuming you mean the kind of foreclosure where you are behind on your payments and they have to kick you out, 100%.

If you mean the kind where you are current on your payments, give the bank the keys, and tell them you aren't going to make any more payments, it depends on the type of loan and the laws in your State.

Another way out is to short sell your house. If you can pull this off, you may get the difference between what you owe and what your house is worth forgiven, but you will have to sell your house. See the link below.

Note that for most people, getting out of debt is *way* more important than having good credit. So you may be focused on the wrong end of the problem.

[mandee07]

information indicating your foreclosure is listed on the top of your credit report and cannot be removed for approx 7 years, this notation will remain after your home is sold by the bank.