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FORECLOSURE

DOES A FORECLOSURE INITIATED ON YOUR CREDIT REPORT EFFECT YOUR FICO SCORE? AND CAN IT BE REMOVED?

  • January 13 2011 - Miami Gardens
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Answers (3)

If a foreclosure has been initiated means the bank has not received mortgage payments for several months and it has already reported it to the credit bureaus affecting the scoring. If it goes into foreclosure the score will drop even more.
  • January 13 2011
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It can only be removed if it is untrue.
  • January 13 2011
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A foreclosure on your credit will dramatically impact your credit score to the negative.  Only the creditor that reported the foreclosure activity can amend the reporting to the credit bureaus.
  • January 13 2011
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