wait 7 years
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.
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.
There can be no specific answer, as credit scores are based on the person's entire credit history.
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.
If the Foreclosure proceeding had already begun it will remain on the credit and should show a zero balance. But it will continue to show the Foreclosure was in effect at that time. If it is still showing a balance contact the credit bureau to have the information updated. You must have proof in hand.
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.
You can't "erase" something off of your credit report. The best solution to not go into foreclosure. 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. Try http://www.speedyrealestate.info. Good luck!
There can be no specific answer, as credit scores are based on the person's entire credit history.
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.
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.
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.
If the Foreclosure proceeding had already begun it will remain on the credit and should show a zero balance. But it will continue to show the Foreclosure was in effect at that time. If it is still showing a balance contact the credit bureau to have the information updated. You must have proof in hand.
It can not be erased. If it has been paid, it will come off your credit in 7 - 10 years. If you still owe money on it and they report monthly that you owe an amount, it can stay indefinitely. If you owe money, but they are not reporting it monthly to the credit agencies, it i will come off in the 7 - 10 years.
i need to get a repossession off my credit report
Once it is reported to the credit reporting agencies, it is very tough to have it removed. However, you can get them to mark it "satisfied" by providing documentation of such along with a letter of explanation. Keep copies of all correspondence with the agencies.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
A charge-off is a tax technicality that gives the creditor a tax deduction and you a taxable cash event. It does not "erase" the debt. You still owe it. It will stay on your credit report for 7 years. If it stays on after that period, file a complaint to the credit reporting agency that is keeping it on.