I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay my mortgage payments until a determination was made, yet my account shows I was two months late. Why?
With the declining value of property, sellers are caught in the position of having to short sale on properties for which the sellers are not delinquent. How does a short sale in which a person has never been delinquent report?
With all the real estate and mortgage problems today I am sure this question has come up before. But, for some reason I can’t find any information on any of the credit bureaus websites. How do the credit bureaus look at a foreclosure on a person’s credit report? Is it as bad as a bankruptcy? How many years does it take for it to go off the credit report?
I have a “Foreclosure was started” comment on my Experian report. We have made our payments on time for the last 30 months. What should the comment be changed to in order to show that we are no longer in foreclosure and that we are now current? I have seen “Paid Foreclosure.” Would that be accurate?
Which has a more negative effect on my credit score, “Account Paid In Full For Less Than the Full Balance” or “Foreclosure”?
When is foreclosure listed on credit report, at the date of sale, at the end of the foreclosure process or at the redemption date?
Some people are saying a “short sale” is better than a “foreclosure” on a credit report, but is that true? Don’t both circumstances drop the credit score significantly?