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credit score difference

court case rules foreclosure was illegal, mortgage co has to fix my credit score...how much difference will it make in my credit score?  will go from a foreclosure to three years of on time payments made...enough of  a difference to qualify for a good mortgage?
  • October 12 2013 - US
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Answers (5)

Profile picture for user0009042
payments were on time...got a hamp mod, paid for 6 months then bank changed their minds said I couldn't have the hamp mod and sold my house at auction while I was waiting to hear why they reneged on the modification that had already been offered, accepted and they took payments on.  court ruled foreclosure illegal, denial of hamp mod was illegal (signed contract, payments made) and ordered bank to "fix" credit score. I have no idea what that means, which is why I'm asking. Their lawyer said my credit score will reflect payments made on time since the foreclosure, which is 3 and a half years ago. In the meantime, have been making use and occupancy payments to an escrow account.
  • October 12 2013
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How was the bank ordered to fix the credit report by the court?  The court ruled the act of foreclosure was illegal, but were you paying your payments on time?

In my opinion this is a very unusual set of circumstances and I don't think we can really predict if the bank will actually change payment history or not. They may remove the foreclosure and begin proceedings all over again if they have a basis.

This is not like double indemnity in a murder case.  You can't be tried for the same murder twice.  You can be sued for the same foreclosure twice by the bank correcting their records and filing again.

The devil is in the details and those details are in the full case decision rendered by the judge.

  • October 12 2013
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I would think your score would skyrocket once corrected with the bureaus. Make sure you follow up to make sure the correction has been made by getting written confirmation from them. Also, save all correspondence, legal docs, etc. in case you need to make any corrections yourself in the future. Congrats on your Win!
  • October 12 2013
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If the FC started reporting 3 years ago my guess is around 100 - 120 points. That assumes you have other credit reporting with an excellent pay history. How many open accounts do you have now and any 30, 60, or 90  day lates on any of those accounts? If so, when?
  • October 12 2013
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I would think it would be a night and day difference.  The question you need to be asking is how long before your scores are reflected.  I would stay on top of that mortgage company to make sure they do what they are supposed to be doing.
  • October 12 2013
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