Letâs write another example of net ionic equation for the reaction between silver nitrate and lithium bromide. Itâs an example of double displacement reaction results the formation of lithium nitrate in solution and silver bromide as precipitate.
Foreclosure drops off your credit in 7 years. A foreclosure stays on your credit forever, it doesn't go away. However, 3 years after the discharged date you would be eligible to buy another home. Keep in mind you have to also have your credit score where it needs to be.
A short sale will have less negative impact on your credit than a foreclosure. In the state of Washington, our lenders are quoting 2 years on a short sale and 7 years on a foreclosure-the latter has been true in the past. I would check with a lender as to how much your credit score will drop. It is true that a foreclosure can take up to a year or more to conclude.