Can You Remove Foreclosures From Credit Reports?

The word foreclosure has become an ordinary term that a lot of people have actually gotten used to. With the amounts of people that you hear going through foreclosures, many people have just became numb to the term. However, anyone that has been subjected from one is eager to find out how to remove foreclosures from credit report information.

The reasoning behind why foreclosures have become such a big problem is because of the lack of employment. The economic recession, is still bringing a lot of heartache down on people as far as employment is concerned, which is only aiding in the foreclosure rating increases.

There are two different things that are affected when a home is foreclosed on. First, the person who has just lost their home is feeling a sense of anguish, guilt and despair all at the same time. This report can actually remain on your credit for the span of 7 to 10 years in many cases.

If you want this foreclosure to not affect your credit, there are different avenues that you can take in order to try to get it removed from your credit report. However, there are only two different things that are plausible. The first thing you can do to remove the foreclosure is the longest thing, and the second thing is daunting.

The first avenue that you can take is to wait 7-10 years for the foreclosures to drop off of your credit report. Sometimes you will notice that there are some bureaus that will still report the foreclosure, but by writing letters to these places often times they will drop it off of your report.

However, the first road will ensure that the foreclosure is removed from your credit report, but it does take a while before you can do anything. This means you are basically living with this thing pulling your score down for practically a decade. Many people who have this mark on their credit want it removed immediately.

There is another way that you can try to get this foreclosure taken off of your credit report and that is to request the lender that put it onto your report to take it off. For some people this sounds simple, but anyone that has gone through a foreclosure knows that this can be extremely difficult.

But on the other hand, there are some people that have been able to have bad marks taken off of their credit report by simply addressing the lender that applied it to their credit. This road can be bumpy, but people have been able to get through it and not have to wait the span of 7-10 for it to drop off on its own.

At the end of it all, the decision to remove the foreclosure from your report will rest in the hands of the lender that put the foreclosure there in the first place. When fighting the charge it is imperative to try keep your composure and be persistent but kind at the same time.

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One Response to "Can You Remove Foreclosures From Credit Reports?"

  1. […] affect your credit rating. Bad credit decisions and histories such as charge-offs, bankruptcies, foreclosures, repossessions and judgments also have a huge effect on your credit […]

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