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How long does a foreclosure stay on your credit report and affect it?

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2010-03-23 22:48:57
2010-03-23 22:48:57

7 years + 180 days from date of first delinquency.

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A foreclosure will typically remain on your credit report for seven years.

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A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.

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Foreclosures remain on your report for 7 years. It is difficult to get a foreclosure removed.

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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.

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Credit reporting requirments means it will be listed for 7 years.

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A foreclosure remains for a minimum of 7 years. In some states, it can legally remain for longer.

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The item will remain on your report for 7 years.

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It will stay on your credit for a few years. Not more than 10 years and not less than 4. Generally, data drops of your credit report after 7 years.

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A foreclosure will show on your credit for seven years from the date of last activity. The federal statue of limitations is also seven years for the legal notice of foreclosure in the public records portion of your credit report. There may be other state laws which extend this statue of limitations. The Fair Credit Reporting Act is worded "...whichever is longer..."

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The Fair Credit Reporting Act allows the legal action of foreclosure to remain for 7 years from the date of filing.

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If the home was a short sale, many investors will view that like a foreclosure. Please proved more details on the type of transaction this was.

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Bad credit or any negative report will remain in your credit report for seven years. Therefore, if it happens that there is a wrong information that will affect your report negatively, be sure to dispute it immediately. You can also do your own credit card repair in order to eliminate any bad credit that will be reflected in your credit report.

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The amount of time that a deed in lieu of foreclosure stays on your credit report depends on the state. The minimum amount of time is seven years. In some states they stay on indefinitely.

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Foreclosure and FICO The total impact of a foreclosure on ones credit report is estimated to be between 200-300 points. The foreclosure itself accounts for 125 -175 points and the late payments that led up to the foreclosure account for the remaining point deductions. Ironically, the higher your score was to start with the more points will generally be deducted. After several years (2-3) your credit score will have rebounded substantially as long as other payments are maintained. You can expect anywhere from a 50-100 points penalty remaining on the report at this point.

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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

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Foreclosure notations can appear within the account listing itself, called a "tradeline" and the actually legal filing of foreclosure can appear within the public records portion of your credit report. Any tradelines with derogatory information are shielded from view after 7 years. The legal entry can appear for 7 years from the date of filing.

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If you are paying cash, NO. If you are financing it with a bank loan, usually it will. Depends on how long ago the foreclosure occured and the individual policies of the bank you are trying to get a loan from.

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I believe it is ten years after the forclosure is finalized. The same holds true for bankruptcy, too. I hope that helps - Mr_Dog

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As long as this was not a foreclosure and it does not show on your credit report, you should be fine. If it shows in your 12 month rental history it could also be a problem

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It depends on how soon you stopped it. If a foreclosure is stopped after three missed payments, then It may only show up as a 90 day late. This can be recovered from fairly quickly, as long as the rest of your payments were on time. If the home is actually foreclosed on, it will show as a foreclosure on the trade line and in the public record section. The best way to see how it effects your credit is to get a copy of your report. You can probably get a free copy from one (or all) of the three credit bureaus. Experian Equifax Trans Union

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Doubtful ... at best, you would have to accept a really absurdly high interest rate, which would mean more financial doom in the long run. A foreclosure remains on your credit report for up to 15 years.

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How long does a judgement stay on your credit report in ventura county/ca

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The lender is likely to report this to the credit reference agencies within a week of the default


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