Blog » Community » Am I able to get an old foreclosure taken off my credit report?

Am I able to get an old foreclosure taken off my credit report?

Foreclosure is a legal proceeding used by a mortgage lender to take ownership of your home if you default on your mortgage loan.

Once the foreclosure proceedings have started, your account will be updated to show that it is in foreclosure. The status of the mortgage entry in your credit report will also be updated to show that the mortgage is in foreclosure.

Foreclosure is considered a final status for a mortgage in your credit report, similar to a repossession for car loan.

A mortgage account reported as in foreclosure will appear on your credit report for seven years from the original delinquency date of the account. The original delinquency date is the first missed payment that led up to the foreclosure status. The account will be automatically deleted after seven years.

Foreclosures are considered very negative and will have a significant negative impact on your creditworthiness and credit scores. If you’ve had a foreclosure in the past, you can begin rebuilding your credit history by ensuring all the payments on your other accounts are made on time, paying off any other past due debts, and keeping your balances low on your credit card accounts.

Check out the scope to hear answers to all the questions asked:

View scope.

Do you have questions about credit?

Join our live video chat every Tuesday and Thursday at 3:00 p.m. ET on Periscope. Rod Griffin, Director of Public Education at Experian, is available to answer your questions live.
Scoped on: 6/8/2017

Review Your Free Experian Credit Report Today

Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

Get Started for Free

Credit Education

Credit Cards & Loans

Get credit cards and loans from our trusted network of partners. See credit offers based on your credit when you sign up for free.

Browse Credit Cards & Loans

Here’s How Much Your Personal Information Is Selling for on the Dark Web

The dark web is a huge marketplace for stolen data and personal information. Find out how much your information is selling for on the dark web.