RF - Foreclosure on reports

[IsleSeat]

during 2002, my worst economical year ever, I defaulted on a Home Mortgage and a NOD was filed, later, a date for the foreclosure sale set. In the 'final' days, I was able to refinance and bail out of the situation - and the payments have been immaculate since. For the "problem Mortgage" it shows now RF "Reposession, Foreclosure" as if the foreclosure went through to the end. A foreclosure sale never happened and I am still in the same house. Can anyone clarify the terminology in the CR, in my opinion, it should show the 'lates', but not a RF.

[Anonymous]

Should say "Foreclosure discontinued" or "Account paid after foreclosure started"

[Anonymous]

When you get a NOD it does not report on your credit report but once youre in pre-foreclsoure the lender will report on your CR. Now keep in mind that Lenders make mistakes!!!

Are you still with the same mortgage company?

If so... Call them and have them correct it. I have a borrower that sold a home last year and the mortgage company reported after the sale as a repo but we were able to fix it.

Try to get a letter from the lender and make them fix it. Also once you get that letter just sent it to all 3 CB's

Message Edited by OneMortgageGuy on 06-08-2007 03:09 PM

[Anonymous]

** Link removed by Admin per FICO Forums Credit Repair Discussion Guidelines which do not allow posting links to sites that promote credit repair**

Good link for information.

---

Welcome to the FICO Forums, OneMortgageGuy,

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-Barry

Message Edited by OneMortgageGuy on 06-08-2007 03:09 PM

Message Edited by Barry on 06-08-2007 03:55 PM

[IsleSeat]

Of course I am no longer with that lender, who reported the RF as the loan was replaced by someone else's. Do I understand correctly that a pre-foreclosure then would be reported just as a foreclosure, which was consummated? I don't think that this is correct. Also, that lender (Select Portfolio) was known for their questionable practices. I want that RF out, I prefer the lates to show, but not a RF. Thanks, MortgageGuy

[Anonymous]

Select Portfolio can be a big pain in the butt! Call them and ask for a letter that states that your home was not foreclosed. They are going to tell you they need to go through the legal department. The letter that you will get will likely state that the home was not foreclosed but was in pre-foreclosure. It will take 3 - 5 day to get the letter faxed to you. Once you get the letter you can try to send it to all 3 cb's. I have never been able to get a letter from any lender that states otherwise.

If you want email me your contact information and I will call the lender with you on the line. If you have a copy of your credit report and account number for Select Portfolio that would help me.

[IsleSeat]

Hello MortgageGuy, I am interested. Let me know where I can find you Monday, I am on PST