Foreclosure Started Reporting

[Anonymous]

I had foreclosure started on an agricultural loan,  I signed an agreed judgement, paid the amount currently due and continued making my normal payments per the agreed judgement.  My Current Status on my credit reports still show "120+ days past due" which was the status on the day they officially closed the account on 9/23/2010 when they filed the papers. And from Sept 2010 to Jan 2013 I have an F in the payment history for foreclosure.  But I continued paying on loan until the last payment on 1/2013.  I know the current status is incorrect as this loan has been paid in full now.  The comment section states "foreclosure started".   My question is should the 29 F's show up in my payment history or should it reflect the payment's I made during that time.

Thanks

[AndySoCal]

Did you make the payment during what is called the pre foreclosure period? The pre foreclosure period is when you receive the notice of default and you so many days to bring the loan current or was after that period? Also is the balance reporting as zero?

[Anonymous]

I had half of what I owed paid off before I was served the initial papers.  I had the remaining balance paid within 30 days of being served.

The balance does show $0.

[AndySoCal]

There are two notifications one is a notice of default. You a certain period of time to bring the account current or a forelcosure will occur.  The second notification is the foreclosure notification stating the bank is foreclosing and a foreclosure sale date usually in that notification.  If you have recieved the second notification then yes the F in the pattern is correct but I would ask the lender how the loan can still be a 120 days late with a zero balance. The lender to change the status to a paid foreclosure as the status of the account.  If you did not receive a notice of foreclosure then it should not be reported as such. Please read all  the paperwork you have carefuully first before taking any actions.

[Anonymous]

I went back and looked at my paper work.  I got the first notice that I had up until Sept to pay up.  That didn't happen.  Got the second notice that said a default judgement would be made if I did not reply with 20 days.  When I got the second notice, I had all but $3000 paid off to be current again.  

[AndySoCal]

Thank you for your response now it is very tough to advise you.  If I understand your last response correctly the lender started the foreclosure process. At some point after September 2010  you bring the loan current. I do not know if it that point is still considered in foreclosure or not. From the point in time where you pay the loan off to a zero balance till now it should not be reporting as 120 days late. You cannot be late on a loan when you do not owe any money I am not sure how to tell you to proceed on this point from a scoring perspective.. I am not sure how the FICO score is considering this account as a foreclosure or not. The score reasons on your myfico credit report would tell you that in what is hurting your score.  One the score reasons should indicate something about a foreclosure if it is considering it as such. If it is not considering it as foreclosure most likely if you dispute the status the lender will change the status from 120 days late to a paid foreclosure status. This could have a negotive impact on the FICO score.  I do not know how to tell you to proceed at this point without running a risk of lowering your FICO score.

[Anonymous]

I filed a dispute on the current status being 120 days over with a balance of 0.......came back with current status 120 days over ....this is the 2nd time......

[Anonymous]

This is the reply back from equifax

We have researched the credit account. Account # - *********** The results are:
This creditor is currently reporting a zero balance for this account. If you have additional questions about this item please contact:

[Anonymous]

When should the foreclosure actually start showing on your credit report....on the month the first letter date expires, the month the creditor files the second set of papers in court, or the month you recieve the second set of papers.