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For closure showing as open account

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For closure showing as open account

Just wondering why a foreclosure shows as an open account.... They took the House! Its been almost 7 years , how come they say its open ? Shouldn't it say FORECLOSED ! Thanks Tem
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Re: For closure showing as open account



temmy wrote:
Just wondering why a foreclosure shows as an open account.... They took the House! Its been almost 7 years , how come they say its open ? Shouldn't it say FORECLOSED ! Thanks Tem

Good question! Before I can attempt to answer it, please provide the following if you can.
 
- I must assume this foreclosure is reporting as a derogatory account by the lender (original creditor) and not as a public record?
 
- Is there an outstanding balance reporting too?
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