How long does it take for a foreclosure to report

[ilzhoefer]

Hello.

I have a foreclosure slated to be auctioned/completed this Monday as a short sale couldn't be agreed upon.

My question is, how long does it take for the foreclosure to show up on the credit reports and public records?

I realize that the damage has mostly already been done to my credit.

Any thoughts are appreciated.

[Burned2manybridgesB4]

Are any of your CRs showing "forclosure proceeding started'...?

[ilzhoefer]

Well here is what I have up to March 2013:

Experian OKOK306090RFRFRFRFRFRFRFRFRFRFRFRF (acct closed, Credit Grantor reclaimed collateral to settle defaulted mortgage)

Equifax   306090120120120120120120120120120120120 (acct open)

TU Nothing (acct closed, Unrated or bankruptcy)

Now, my x who is also on the loan was trying a ss for the last year, filed for Ch 13 a few months ago because it was going to foreclosure, ch 13 thrown out, now slated to be foreclosed on Monday.

Should anything new hit the reports that would damage my report/score even more?

[ilzhoefer]

Will there be any new damage to my score after the house is sold at auction and the public records reflect the foreclosure?

[Burned2manybridgesB4]

I'd be worried about litigation/being sued after a sale/auction, where the lender would try to recoup the difference of the balance, something like a deficiency judgement.

If there was a second mortgage involved, then another set of hands trying to get into your wallet too.

[ilzhoefer]

Well, they can come after me if they want to. I have no assests. So I would file bk anyway.

[Burned2manybridgesB4]

I'd recommend you rummage through the Mortgage section here, and use the search bar for any info that could help prepare you.

[ilzhoefer]

Yes, I have looked through the mortgage relief act and also calculated insolvency and I have a CPA, but will get an attorney as well, to see what all of my options are.

I mean this site has been awesome!

[Burned2manybridgesB4]

Well, good luck. Keep us posted.