Everyone’s situation is different, and how long these credit-score drops remain in effect vary. The key to rebuilding your credit is to pay your bills on time and avoid using all of the credit that’s available to you.
Although a “perfect” credit score can be over 800, remember that to get the best deal on your next mortgage, you’ll need a score of around 720 to 780. Want to learn more about your credit score? Read this article.