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.
what ever the balance was at the time of foreclosure will report on your credit report
Foreclosures remain on your report for 7 years. It is difficult to get a foreclosure removed.
It reports that it was previously in foreclosure and is now paid-in-full.
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.
The foreclosure will be on your credit report indefinitely.
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.
Of course not! Your credit report is damaged because you didn't pay your contractual debts, not because you can't own a house.
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.
If You Paid The Bank All Moneys Owed, And At Present Are Credit Wise Clear With The Bank. Take Your Report To A Loan Officer Then File A Report With The Credit Reporting Company, This Should Clear This From Your Credit Records.
It sometimes takes a month or two to be added as a negative on your credit report.
Foreclosure of a property hits your credit report in a very big, negative way. Lenders generally look very unfavorably upon foreclosures. Try to avoid it. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure.
A foreclosure will typically remain on your credit report for seven years.
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.
If foreclosure proceedings were initiated, and that is all that is claimed on the credit report, then the bank cannot change the report. If the credit report shows that the foreclosure took place, however, the bank would have to correct that. Similarly, a credit card company won't take back any delinquent payments reporting just because the card was paid off. They are legally obligated to report accurately.
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
Anytime a negative item is removed from your credit report, it will raise your credit score unless new collections are added to your report.
Foreclosure is, without question, very damaging to your credit report. All item on your credit report stay there for 7 years, so consider looking into other options. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
It should be removed from the credit report in 2009. A bankruptcy remains on a credit report for ten years from date of discharge.
You will not lose your general contractor license or your real estate license if you have foreclosure on your credit report. A foreclosure or bad credit is not a disqualification for these types of licenses.
A foreclosure does not disappear from the public records section of a credit report. It is much like a judgment that is not satisfied. It stays on the report forever.
wait 7 years
You cannot get it removed from your credit report. It will be on your credit report for 10 years and it will affect your ability to get loans and other type of credit accounts.
If the lender does not correct your credit report, then you could send a letter and a copy of the court's decision to the credit agencies. Still, a notice of foreclosure may remain, and I am not sure whether you can make that go away.