How long does foreclosure stay on a credit report?
Jul 24, 2009 in
Financial and Loan Tips
Moe
My mom’s house in CA is unfortunatly going into foreclosure and I was wondering how long that would stay on her credit report or if it’s on there permanently.
My mom’s house in CA is unfortunatly going into foreclosure and I was wondering how long that would stay on her credit report or if it’s on there permanently.
Like this post? Subscribe to my RSS feed and get loads more!
9 comments
David W on July 25, 2009 at 10:35 pm
7-10 years
How long does information appear on my report?
A credit reporting agency stores information from credit grantors and public records, including bankruptcies, judgments and liens. Potentially negative information, such as missed payments and most public record items remain on a personal credit report for 7 years, with the exception of Chapters 7, 11 and 12 bankruptcies, which remain for 10 years, and unpaid tax liens, which remain for 15 years. A paid tax lien will remain for 7 years. Positive information may remain on a report indefinitely. Paid closed accounts generally display for 10 years. Requests for your credit history remain on your personal credit report for 2 years.
Derrick on July 28, 2009 at 2:36 am
around 7 years
Killa on July 28, 2009 at 10:55 am
I believe for 7 years.
Wayne y on August 1, 2009 at 12:52 am
10 years in australia
satarnag on August 4, 2009 at 11:21 am
A foreclosure stays on your credit file for 7 years.
If your mom is in Southern California, contact me (or your mom) and I’ll see how I can help keep it off her records. I help people everyday that are facing foreclosure.
Regards
sheristeele on August 6, 2009 at 9:22 am
The foreclosure is on there for 7 years.
However, if they bank resells the home for less than what is owed on it, your mother will be responsible for the balance, or a judgement will be placed against her, and the judgement could remain for 10 years on a credit report.
Crockett on August 9, 2009 at 3:03 am
That is a very interesting question because there is one aspect no one else has mentioned and that is one of the questions asked on almost every signature loan and collateral loan is ” In the last 7 years have you had a bankruptcy” and another question asked is “Have you ever had a foreclosure” so which do you think lenders see as worse. One example of this is that some people will go through bankruptcy and the house will still be foreclosed on.
Gary D on August 12, 2009 at 10:36 pm
I’ve heard it stays on there forever but when someone checks your credit they just check the last 7 to 10 years.
Foreclosure help 888-870-9191 on August 14, 2009 at 9:03 am
We help people every day in your mothers situation.
Check out our national web site
You can call our toll free informative hotline 888-870-9191