Foreclosures can be removed from your credit report like any other negative item. You must dispute it to the credit bureaus. The credit bureaus will have 30 days to verify the foreclosure or it must be removed from your credit report. With the higher amount of foreclosures lately you have a better chance of it being removed.
UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Foreclosure from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "foreclosure account" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The bank that held your mortgage may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
A foreclosure will be expunged from a person's credit report after seven years have expired from the time the foreclosure was reported. Valid information on a credit report cannot be removed until the required time limit for reportage has expired.
Foreclosures remain on your report for 7 years. It is difficult to get a foreclosure removed.
A foreclosure will typically remain on your credit report for seven years.
The foreclosure will be on your credit report indefinitely.
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.
A foreclosure will be expunged from a person's credit report after seven years have expired from the time the foreclosure was reported. Valid information on a credit report cannot be removed until the required time limit for reportage has expired.
Foreclosures remain on your report for 7 years. It is difficult to get a foreclosure removed.
A foreclosure will typically remain on your credit report for seven years.
The foreclosure will be on your credit report indefinitely.
A foreclosure will typically remain on your credit report for seven years.
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.
It sometimes takes a month or two to be added as a negative on your credit report.
what ever the balance was at the time of foreclosure will report on your credit report
No, if property has been foreclosed upon the notation will remain on the credit report for the required amount of time of seven years from date of foreclosure. A bankruptcy remains on the credit report for ten years.
You can't. But as long as you pay you bills on time for the next 3-4 years you shouldn't have a problem getting a mortgage
Yes.
Usually a foreclosure will lower a person's credit score by 250 points, and sometimes by as many as 280 points. The foreclosure stays on a person's credit report for seven years.