Question


mxbrown

How long does a bank have to post a foreclosure to my history?

My rental was foreclosed and auctioned off via a trustee sale on June 1st. My current credit report, as of 10/15, shows the loan as closed, $0 balance, $0 due and notes "Foreclosure process started". This info was reported 5/20. My credit score did not plummet, as I expected it would have. Is there a certain time frame WaMu/Chase has to report the foreclosure, making my score drop? If they exceed such time can I petition to have it removed?

2 months ago - 4 answers

Best Answer

Chosen by Asker

Nope, they can report it ANY time in the next 7 years. As long as the posting is accurate, you can petition your heart out but nothing will happen.

by Ryan M

2 months ago

Asker's Rating: 

Other Answers

No, there is no certain time frame in which Wa/Mu must report the situation. If you petition to have it removed, then they WILL correct the entry and your score WILL drop. Keep your mouth shut while you are ahead.

by acermill- 2 months ago

no it may never show

by kemperk- 2 months ago

I know someone who foreclosed with them, investment property to boot, and it was never reported. They just closed the loan.

by Janet P- 2 months ago