Hello Everyone, I wanted to ask the those who may know how a foreclsure appears on ones credit report. What I would like to know is how is it reported?? For instance does it show up in public records section of your report as a FORECLOSURE or does it just show up as a judgement? Also, how does the tradeline being reported on the credit report look after a foreclosure? Does it appear as a charged off account or perhaps there is an notice of foreclosure inserted? If anyone has ever gone through this or has knowdege about how they are reported by the CRAs, please let me know.. If you would please let me know what state you live in that would also help. The foreclosure process is different with about half of the states being judicial and the other half non-judicial... Thanks,
there will be a judgement in the public records section and your mortgage will have a big foreclosure word written across it. Add all the late payments that lead up to the foreclosure and you get hit 3 times.
I did not get a judgement due to my foreclosure so I don't have a judgement. It appears in the regular accounts area and it says "Foreclosure" on it. Also, any amount I was past due at the time still says, "Past due amount".
my hubby had a foreclosure/no judgement nothing notes foreclosure per agreement w/banks attorney. he was foreclosed, on attorney agreed to not report as foreclosure since i bought all properties back at auction. report does show 180 days late. paid/now current.
Thanks for the input. I am just trying to figure out how it is reported. I have never personally been in the situation, but I have a friend who is. It helps to know how the information is reported in the negotiation process. If any of you don't mind, I would like to know what state you live in. This will help me determine how it is done from state to state. The foreclsoure process is different in a judicail state than in a non judicial state. How it is reported may be different also, because a judgement is part of the judicial process and in a non judicial state, they dont need a judgement to take back your home. They just publish notice of default and if you dont pay up it goes to sale.. Thanks agian,
