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Regular Contributor
Posts: 194
Registered: ‎01-28-2013
0

When is the damage done on a foreclosure?

Hello:

 

I received a notice of a foreclosure sale on my former primary residence. The sale is slated for June, but when is the damage done to my credit report?

Below you can see the history of my experian report. I was actually current from 2008 until Jan of 2012 which is the 30 days late you see below.

Any thoughts are appreciated.

 

AprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJanFebMar
       OKOK306090RFRFRFRFRFRFRFRFRFRFRFRF
Regular Contributor
Posts: 246
Registered: ‎02-27-2013
0

Re: When is the damage done on a foreclosure?

The initial damage begins with the first 30 day late and goes from there.

Start: (2-26): EQ 602 (Myfico) TU 579 (Credit Karma) EX 634 FAKO
Current: (7-12): EQ 690(myfico) WalmartTU 696 EX 689 (lender 6-3)
1st Goal: 680 across the board - DONE June 2013!
2nd Goal: 725 across the board
Regular Contributor
Posts: 194
Registered: ‎01-28-2013
0

Re: When is the damage done on a foreclosure?

So the public auction of the home will have no additional impact?? or very little?

Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
0

Re: When is the damage done on a foreclosure?

Right now only lates are reporting. When the lender updates the record with 'foreclosure' your CR will take a substantial hit.

Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
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Regular Contributor
Posts: 194
Registered: ‎01-28-2013
0

Re: When is the damage done on a foreclosure?

Here are the comments on my report in regards to this account:

 

Experian (closed):

Credit Grantor reclaimed collateral to settle defaulted mortgage

 

Transunion (closed) :

Unrated or bankruptcy

 

Equifax (open):

nothing.

Senior Contributor
Posts: 3,455
Registered: ‎11-30-2007
0

Re: When is the damage done on a foreclosure?

My sisters score went into the basement when the foreclosure reported.  I'm sorry you're going through this. 

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