Written on your credit report:
“paid in full,” “paid as settled,” “paid as agreed” -are all similar, affecting your credit very little

Written on your credit report:
“foreclosure”- cuts your credit by hundreds of points.

Fannie Mae’s Announcement 08-08, Mar. 31, 2008 (source: https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf)

2 years to start lending  again

5 years to start lending again