Foreclosure on my Report?

Question:

I have a 571 fico there is a Foreclosure on my report. It was the lenders error and an admitted mistake on their part I sued the lender and they settled and paid me a lg $ amount. They put the house back in my name, I refinanced and sold the home. Now this is showing up on my report as a foreclosure along with the positive of me refinancing and paying as agreed. How many points would my score go up if I can get the foreclosure removed? I have been disputing and now taken the extra step of sending the 3 bureas the court docs and settlement docs. I'm trying to by a house and now this is affecting me

Answer:
Your Fico score will go up tremendously if you remove the foreclosure completely from your credit report.

Make sure all 3 bureaus are notified, and remove it completely. Once it's removed, you'll see your score skyrocket. That is assuming you don't have any other outstanding or old major derogatory items on your report.

The best way to get the foreclosure removed is to get all the original paperwork from the lender showing the error, and their responsibility, and faxing it to all 3 bureaus so they can update their reporting.

This is very important, make sure you take care of it asap.

Learn about mortgage and credit:

http://www.thetruthaboutmortgage.com...

You have a right to inform the credit reporting companies of an error in your credit report. Contact them at the 800 numbers and get more info. Last i remember, you are entitled to a 100 word paragraph which will show on your report for any lender to see. Send the documentation to the credit bureaus as well. Deal with each company individually. Don't go through a website that gives you all of them. After you send the proof, they may remove it altogether but make sure you prepare a statement, which must be in writing.

Usually you send a letter with all the information you have, especially if you have a letter from that lender you settle with, you sent a copy of to the three credit bureaus. They investigate, and chances are you can get it taken off your report, something like that happened to me with a credit card that I had paid and was never reported as paid, so they deleated it. Experian, TransUnion, and Euifax. I would recommend getting a report from each of them, because the may have different things listed in each.

Foreclosure on my Report?

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