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How long does a mortgage default stay on your credit file?

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2006-07-29 13:42:19
2006-07-29 13:42:19

Most cases, negative items can stay between 5-7 years on your credit report. Henry

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Related Questions


It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.


Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.


All negative information stays on your credit file for anywhere from 1-6 years. The credit reference agencies onlyhold information for six years, whether positive or negative.


As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer



as long as your credit file contains negative information it will always impact your credit score


It stays on your credit report for ten long years and they won't remove it.


You must have some sort of valid credit rating in order to get the mortgage to begin with (unless you went through one of those "last chance" guys that charge 25% on the principal) and as long as you don't default on any payments your credit rating can only go up. The rating is a reflection of your ability to pay off debt. Getting a mortgage will affect any future amounts you may wish to borrow only in regard as to the amount. You can only carry so much debt based on your income, regardless of how fabulous your credit rating may be.



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


As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.


Yes, but its never wise to reaffirm a mortgage. Even if you dont reaffirm, as long as you keep making the mortgage payments, the bank wont foreclose.


Generally, you can refinance as long as the life tenant signs the mortgage. They must consent in writing so the lender can take possession by foreclosure, free of the life estate, in case of a default.Generally, you can refinance as long as the life tenant signs the mortgage. They must consent in writing so the lender can take possession by foreclosure, free of the life estate, in case of a default.Generally, you can refinance as long as the life tenant signs the mortgage. They must consent in writing so the lender can take possession by foreclosure, free of the life estate, in case of a default.Generally, you can refinance as long as the life tenant signs the mortgage. They must consent in writing so the lender can take possession by foreclosure, free of the life estate, in case of a default.


The loan will need to close within 90 days of the issue date of the credit report.


In order to get a 15 year mortgage you need to have good credit. You must also be able to pay the larger monthly payments without any difficulty. Getting a approved for a 15 year mortgage is not difficult as long as you have good credit and can afford the payments.


You will need mortgage insurance as long as you still have a balance to pay on your mortgage, so in essence for as long as you have a mortgage.


Bad credit is not the only disadvantage to filing for bankruptcy. The most obvious disadvantage of filing for bankruptcy is that it will ruin your credit for at least 7-10 years. Some other disadvantages include:* Losing credit cards* Losing non-essential possessions* Inability to obtain a mortgage for some time* Embarrassment* Not all debt will be discharged


Seven years! 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 depends on the foreclosure process of your state. If you are not current on your mortgage, the mortgagor may file a motion for relief from stay during the pendency of your case. Once they get relief from stay, they typically will start foreclosure proceedings on the home. In California, typically there is a notice of default and then a notice of foreclosure sale before the sale.


It can be listed on credit reports for up to 10 years. If your question is how long will it be on file meaning the official court docket (a public record), the answer is forever.


No, but it may cause difficulty when applying for joint credit such as a mortgage. ___________________________________________________________________________________ You are a sole entity as long as you do not apply for monies together therfore you will NOT be penalized by your hubbies lack of credit. Y-THINK-Y


Sure, as long as your credit is good and you make enough/have enough assets to qualify for the mortgage. Again, the legalities that apply in one state, may not apply in another state. It will be wise to check it out first.


Seven (7) years from the date of dismissal.


About a year and you need to take credit counseling first.


Seven years! 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.



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