Posted on: 13th Nov, 2012 06:58 pm
Hi there… I need to know whether a Foreclosure drop off credit report @ 7.5 years from first reported late. My first late payment was 4 years ago and I still don't have a foreclosure to this day. So will the 7.5 clock reset once the lender forecloses?
Hi Bieber,
The foreclosure may get separately reported on your credit report. In such a situation, it may remain in your credit report for 7.5 years.
The foreclosure may get separately reported on your credit report. In such a situation, it may remain in your credit report for 7.5 years.
Hi Bieber!
Welcome to forums!
I agree with Adonis. Once the foreclosure gets reported on your credit report, your scores may drop further and then onwards, the negative item will remain in your credit report for 7 - 7.5 years.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with Adonis. Once the foreclosure gets reported on your credit report, your scores may drop further and then onwards, the negative item will remain in your credit report for 7 - 7.5 years.
Feel free to ask if you've further queries.
Sussane