Then the 120 days late reporting every month was accurate. When you disputed it, they changed it to FC every month. Either one hurts the same because of the "foreclosure" status. Creditors have the option of either reporting the highest delinquency prior to foreclosure/charge off, or the foreclosure/charge off notation. So there's nothing inaccurate here.
As for whether or not it would affect a mortgage, that varies by lender.
@Anonymous wrote:Long story short. I voluntarily surrendered a vehicle in October 2018, the creditor reported as FC (foreclosure). When looking for a mortgage lender in May, I found out this creditor had reported every month since 10/2018 to 04/2021 "120 days late" each month. I filed a dispute and was told it would be corrected. They did remove the 120 days late each month...and replaced it with FC for every month. I've attempted to contact the creditor and they refuse to let me talk to the department that reports to the bureaus. Not sure what to do at this point. Anyone have any suggestions? Will this impact my getting a home loan?
Yes it will no doubt affect your getting a home loan.
Yup, they can report it as long as it remains unpaid but to report it as a foreclosure is odd usual reporting is repo. Once its updated to paid then per CRA rules updating is to stop.
Hi there OP, I have merged these two threads together as they are on the same subject. Please in the future refrain from posting in multi forums as it can lead to confusion by the members and its not in line with our TOS. Thanks for your understanding on this.