Short Sale before Foreclosure

[SSmokin]

Ok, back in 2002, I owned a home that started to go into foreclosure (proceedings had started). Before the home acually went into foreclosure, I did a short-sale to a private investor. Should the home be showing as "foreclosed" on my CR's, even though the home sold?

[bosshaug]

It probably won't affect your credit scores either way--once they filed a notice of default on your loan, it is essentially the same as a foreclosure.

[samslaught]

I would dispute it as inacurate and have it removed all together. Shortsales should be report as settled accounts

[SSmokin]

I would dispute it as inacurate and have it removed all together. Shortsales should be report as settled accounts

 

 

[TransUnion] Settled - less than full balance

 

[Experian] Foreclosure proceeding started.

 

[Equifax] Settlement accepted on this account

Real Estate Mortgage

 

Well, this is how it is showing. The problem is, when I tryed for a credit card, bank said that there is a foreclosure on my credit. Is it the EX CRA that is causing this? Also on "Pay Status" TU and EQ are showing "Current" and EX is showing "Foreclosure".

[direred]

Well, this is how it is showing. The problem is, when I tryed for a credit card, bank said that there is a foreclosure on my credit. Is it the EX CRA that is causing this? Also on "Pay Status" TU and EQ are showing "Current" and EX is showing "Foreclosure".

Possibly. They may not have enough ways of reporting to third parties to distinguish between a short sale and a foreclosure. EX has some odd holes in how the data is represented. (As I discovered in court.)