Question about a credit inquiry.

Discussion in 'Credit Talk' started by snakeman, Oct 3, 2003.

  1. snakeman

    snakeman Well-Known Member

    I had a mortgage that I had foreclosure proceedings started on back in early 2002.

    We sold the home and made some money before the redemption period was up.

    I noticed a post by someone yesterday saying that once the loan is up or in our case, foreclosed, they cannot pull your credit report. The person mentioned that this was a closed end loan?

    I need more info on this subject. I just noticed that this mortgage company had pulled our bureau every month we were in foreclosure for a total of 3 inquiries.

    Was that illegal? Under the comments section, it says "real estate loan".

    Thanks for the help!

  2. snakeman

    snakeman Well-Known Member

  3. snakeman

    snakeman Well-Known Member

    I posted this question yesterday about a mortgage company pulling your credit bureau after foreclosure.

    I wanted to know if this was legal.

  4. snakeman

    snakeman Well-Known Member

    Once again bump!!!
  5. snakeman

    snakeman Well-Known Member

    Bump again...
  6. dixidriftr

    dixidriftr Well-Known Member

    I think that they could say they did have a PP since the account was in default and about to be foreclosed on, i.e. for collection purposes.There is the issue of the account being closed ended to consider though though. Read the FTC opinion letters.

    I do know one thing, once the loan was paid, they had no pp to pull your reports.
  7. snakeman

    snakeman Well-Known Member

    Right, and they didn't once it was paid. They did it 5 days before we closed and 1 month earlier.

    I think they had no right to pull it after foreclosure. Especially since we told themwe were selling it. The inquiry on my report does not say PP. It says credit loan.


  8. jlynn

    jlynn Well-Known Member

    They did it before it was paid off (technically still in foreclosure?). Sounds like they probably had pp.

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