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After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

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EW800
Valued Contributor

After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

As several of you know from all the great help I have received through this forum, my wife and I have been rebuilding following a foreclosure that completed more than two years ago.  I have been concentrating on my reports, figuring that our reports would be basically identical, other than a JC Penney's account that my wife has on her own.  Well, this morning we pulled her 3-Bureau MyFIco report.  I was shocked and pleased to see that the foreclosure and even that entire trade line does not show on any of the three CRA's for her.  As a result, all of her FICO 8 scores are well over 800, as you can see below.  Most of her Bankcard Enhanced scores are in the 835-845 range!  

 

Since our reports are very similar other than the foreclosure, I am taking this to mean that the foreclosure is holding my scores down by about 100 points or so, close to two and half years after the foreclosure.  It sure makes me look forward to when the foreclosure falls off of my reports in the summer of 2018!  

 

My wife's scores are below and my scores are in my siggy below.  

 

IMG_4031.PNG

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2023: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $48.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $22.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $21K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $296K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 1 of 6
5 REPLIES 5
gdale6
Moderator Emeritus

Re: After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

Could very well be 100 points or more, grats to your wife.   Emoticon-Thumbs Up.png

Message 2 of 6
Anonymous
Not applicable

Re: After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

Nice!

 

It seems like just about ANY major derog causes you to hit a glass ceiling around the mid 700's

Message 3 of 6
EW800
Valued Contributor

Re: After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

I believe you are correct, NormanFH. No matter what I do, I e pretty much been stuck in the 720-730 range, with just over three years to go before the fire louse falls off. I've been hoping that maybe as more times passes over the next year or two that I could gain another dozen or two points, although with the wall that it looks like I've hit, that may not the likely.

Can anyone else comment on the highest you have been able to get a score up with a major derog showing?

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2023: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $48.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $22.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $21K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $296K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 4 of 6
EW800
Valued Contributor

Re: After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)

Thanks, gdale!
You've been such a great help through my rebuild!
Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2023: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $48.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $22.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $21K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $296K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 5 of 6
surferchris
Valued Contributor

Re: After 2+ years, how much a foreclosure is depressing my scores... (About 100 points)


@Anonymous wrote:

Nice!

 

It seems like just about ANY major derog causes you to hit a glass ceiling around the mid 700's


Based upon personal experience, I agree with Norman.  Low to mid 700's seems to be the ceiling.




 

Current Cards:
AmEx Hilton Honors Surpass//AmEx Platinum Card//Ann Taylor Rewards Mastercard//Capital One Platinum Card//Credit One AmEx//Credit One Platinum VISA//Fingerhut//Navy More Rewards AmEx//TruWest Platinum VISA//Aspire VISA//Costco Anywhere VISA//Lowes Advantage//Apple Card
Loans:
1 Mortgage/////Navy FCU Auto Loan (2020 Jaguar I-Pace)//Capital One Auto (2016 BMW i3)
Next Cards (4th QTR 2022):
Navy Flagship Rewards VISA//Chase Sapphire Preferred
Stats:
Scores: 700's // Inq's: 1 for mortgage // Util: 1% // AoOA: 21 yrs

Message 6 of 6
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