How can you remove a foreclosure from your credit?

in Foreclosure

Jos asked:

Can a foreclosure be removed from your credit after a year? How long does this stay on your credit report?

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6 comments

theeconomicsguy on December 18, 2009 at 12:42 am

It can’t be removed. It generally stays on your report for seven years, although it can remain up to 10 years.

Sorry I don’t have better news.
Mr. Knowitall on December 20, 2009 at 8:07 pm

What he said. ^^^

You’re stuck with that one!

There are “Credit Repair” companies out there that will charge an exorbitant amount of money to “fix” your credit, including removing your foreclosure. This is a scam – don’t fall for it!
cg on December 24, 2009 at 12:04 am

The only things you can remove from your credit report are things that are incorrect. If they didn’t happen, then contact the financial company that put them there and get it taken care of.

The bad marks that are correct and get posted will come back to haunt you for around 7 years.
Faye H on December 24, 2009 at 3:28 pm

It stays on for 7 years.

You can’t remove it unless it is incorrect. Then you can file a dispute. Any credit repair place that tells you they can “fix” it is lying and will charge you money to basically do nothing. You’re stuck with it for a while.

You can, however, start doing things to improve your credit score.

Pay all bills ON TIME. Late payments kill you.

If you still have a credit card, use it fairly regularly but pay the entire amount off when the bill comes. Those regular payments will help you but you have to pay it on time.

Reduce any other debt you have. If you still owe credit cards, pay more than the minimum monthly payment. If your cards are maxed out, it’s hurting your score. Get them paid down to below 30% of your credit limit and don’t run them up again.

After a period of time of regular payments and getting your debt reduced, your score will start going back up. The foreclosure is going to stay there for a while though.
spifiman1 on December 27, 2009 at 8:17 am

Nothing can be removed unless it’s wrong. It will stay on your credit for 7 to 10 years.

Do not fall for the people out there that say for a fee we can fix your credit, it’s a scam. All they are going to do is protest it and it will be removed for a couple of months until the facts are in and it will reappear.
overhereyoupretty on December 29, 2009 at 5:24 am

out of luck…eat the next 7 to 10 years and swallow…Learn from this…Want to buy another home…there’s ways…to much to say here