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The foreclosure may have been reported to the Credit Bureau your lender is looking at but not the Credit Bureau you are looking at. For example, the 3 main Credit Bureaus are Transunion, Equifax and Experian. You lender may be looking at Equifax and seeing the foreclosure, when you are looking at your Transunion, where the foreclosure was not reported.
What else can I help you with?
May a creditor report the debt to a credit rating agency after the debt is time-barred?
Generally speaking, at some point the creditor is not going to spend the money to keep a deragatory on your credit report. In the case of Bankruptcy it stays on you credit report for 10 yeas. In the case of foreclosure it stays on your credit report for 7 years.
How long does a foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
What is the law concerning 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 Fair Credit Reporting Act requires creditors to report your account accurately, and the credit bureaus are required to maintain records that match the reporting. The bureaus are not responsible for the accuracy of the reported account information as they do not have access to the account records for each creditor. If you dispute the accuracy of an item, they request a response from the creditor, at which point the creditor must either show that your dispute is invalid, that your dispute is indeed valid, or fail to respond in a timely manner (failure to respond will mean the dispute is accepted and the item corrected or removed).
How long does foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
Can you be a creditor and only report on one company?
Yes. There are no laws stating that any creditor has to report to any more than one credit bureau (and the creditor is allowed to choose which one to report to).
Can you get a foreclosure off your credit report?
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.
When does foreclosure disappear from the public record section of a creadit report?
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.
How long will a foreclosure be on your credit report and how will it effect your credit score?
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.
Can a creditor remove collection accounts from my credit report?
Yes, a creditor can remove collection accounts from your credit report if they agree to do so or if there is an error in the reporting.
How long does a foreclosure initiated stay on your credit?
Foreclosures remain on your report for 7 years. It is difficult to get a foreclosure removed.
If a loan was in foreclosure when property was sold how will it report to credit bureaus?
It reports that it was previously in foreclosure and is now paid-in-full.
