If foreclosure proceedings are started but the loan was reinstated will it show negatively on a credit report?
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report.
I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
This means that foreclosure proceedings have started due to a substantial delinquency of the loan. Once these proceedings start, the bank will no longer accept any funds except for the total amount that you owe. If you pay the total outstanding debt then you have "reinstated" the loan, which means you avoid the foreclosure. Even though proceedings may have started, it won't show on your credit report as a foreclosure unless the home was sold…
You had foreclosure proceedings started but you sold the home and paid off the bank in full Can the foreclosure proceeding started be remove from your credit report?
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 starts the foreclosure process but isn't completed should it show on your credit report?
I believe it would depend on your lender's work load as to when they will request that you move out. To stabilize your situation, it would be good for you to put aside the amount of the mortgage payment into savings and to start looking for less expensive housing. You could also check with the lender to see what you could do to stop the foreclosure, paying back all of the back payments, and possibly…
On my credit report it says paid closed foreclosure proceedings started but it didn't foreclose house sold. Signed the papers to the new owners and that was it Is it saying foreclosed or almost?
Stayed: If the charge is "stayed" by the judge, this means the present proceedings are suspended. It is not a finding of innocence, simply a stopping of the prosecution at a particular point. The proceedings can be started again in the future if certain events occur (for example, new evidence is found).
There is a process to appeal a bank foreclosure. Each bank is different and it can be a cumbersome undertaking. They will probably have you jump through many hoops. If you are looking to stall the foreclosure, it might be a good avenue for you to explore. Even if it buys you another week or two, that may be enough time to get your grandmothers' finances in order.