Posted on: 18th Mar, 2009 02:41 pm
If my house has a foreclosure sale date and I sell it BEFORE the sale... effectively removing the foreclosure... will my credit report still show foreclosure?
Hi nredstone!
Welcome to forums!
If you sell off the property before the foreclosure, then your credit report will not show it as a foreclosure. However, you will have to inform the lender that you are selling the property. Once you sell off the property, you will have to clear off the mortgage dues of the lender.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If you sell off the property before the foreclosure, then your credit report will not show it as a foreclosure. However, you will have to inform the lender that you are selling the property. Once you sell off the property, you will have to clear off the mortgage dues of the lender.
Feel free to ask if you have further queries.
Sussane
If you already have a sale date that means you are already 90 days down (in a NOD status) which means a foreclosure has already been initiated and hence will MOST likely have the same effect as if the foreclosure showed on your credit. You will still have just as much trouble trying to apply for any future credit.