How does eviction effect your score especially when its not your fault?

[Anonymous]

I'm a tenant whose property is getting foreclosed on by Fannie Mae. Not my fault that the landlord did not want to pay on a property $50,000 underwater. At least she was honest enough to tell me and not take my money. I've lived here rent free for 13 months so I can't complain. I'm actually trying to buy the property from Fannie Mae but haven't heard back. Suppose to be evicted in 3 weeks if I can't buy it. How does this effect my credit?

[haulingthescoreup]

Hi, welcome to the forums!

It should shouldn't affect your credit at all, as I don't see how any of this would possibly show up on your credit reports.

If Fannie Mae ever does allow you to buy it, you would see inquiries appear for your financing, and then the mortgage would appear (this assumes that you're not able to pay cash.) But since you aren't in any kind of ownership status or on the mortgage, you're in the clear.

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.


edited to fix fairly critical typo, sheesh. Not good to post before the coffee has kicked in.

Many apologies if I confused anyone!

Message Edited by haulingthescoreup on 02-24-2010 03:59 PM

[Jazzzy]

Hi and welcome.

You didn't sign anything with anyone other than the landlord, did you? If you didn't have an agreement to pay with anyone but her, you should be in the clear.