How a Foreclosure Reports on Experian

[JagerBombs89]

I decided to check all the my scores about 6 hours ago and Experian had my mortgage status listed as "Foreclosure proceedings started."  I just received an alert from Experian that my account status has changed to the following: "Account is in a bank adjustment, deed in lieu, or a bank liquidation status"

What does this mean exactly?  Does it mean they are proceeding with foreclosure as planned?  Attempting to do a deed in lieu of foreclosure? The bank hasn't offered to do anything other than foreclosure so the status seems a little confusing.  Thanks in advance!

[SOGGIE]

Google: Account is in a bank adjustment, deed in lieu, or a bank liquidation status. The question is asked and answered on the creditinfocenter website. Hope this helps

[2b2rich]

That thread on the other site is about 6 years old.  The information may still be accurate, but I would check for a more current explanation to be sure.

Here is one source from BOA, and while certain, factors may be 'lender specific', I think the overall purpose behind it is not.  Good Luck!

https://homeloanhelp.bankofamerica.com/en/deed-in-lieu.html

[JagerBombs89]

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@SOGGIE wrote:

Google: Account is in a bank adjustment, deed in lieu, or a bank liquidation status. The question is asked and answered on the creditinfocenter website. Hope this helps

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Not only did I Google that, but I searched the forums too!  And whatya know, only one thread with that exact terminology!

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?filter=labels&q=Account+is+in+a+bank+a...

I wasn't asking for the definition of what deed in lieu of meant, they got online dictionaries if I need that.  I was asking if anyone has gone through a foreclosure and had that status pop up on their credit report.  One day Experian is reporting "foreclosure process started" and then the next "account is in bank adjustment, deed in lieu, or a bank liquidation status."  If anyone HAS had this show up on their credit, what were the circumstances around that event?  Did they initially have foreclosure started and then finalized with the bank for a deed in lieu?  Or is this just standard reporting for all foreclosures with Experian? 

[Anonymous]

Could I please ask how this turned out for you? We've been trying to shortsale our house for months now. It was on the market for a whole year prior to that with no interest and finally we had to resort to short sale route. The bank rejected the first offer and while it was back on the market they started threatening / processing towards foreclosure from what I understand....Someone just submitted another offer last week. Today I got the same blurb on my credit report. I'm wondering what it means.