How does a foreclosure show up on a credit report?

[jmw1212]

Ok we have had several foreclosures this year and one into the new year. We filed bk7 last May. I looked at my credit report again today and it just shows either included in BK or charged off. Is it suppose to show "foreclosure" ? If so, does my two year wait to buy another home start from when they post that or when it happened? thanks

Edited February 6, 2012 by jmw1212

[breeze]

From when it happened. It may not show up on your reports until later. FC's are public records, filed with the court, and they are not reported by the court, they are reported by a 3rd party who periodically looks for PR's, and reports them to the credit bureaus. It's still there, and it can be found by anyone who looks for it.

[jmw1212]

Thanks Breeze, but when does the two year mark start, when it's reported or when it's filed? I need to know when we can go for a mortgage again...as I think we are loosing our home now too:(

 

From when it happened. It may not show up on your reports until later. FC's are public records, filed with the court, and they are not reported by the court, they are reported by a 3rd party who periodically looks for PR's, and reports them to the credit bureaus. It's still there, and it can be found by anyone who looks for it.

[tiggerlgh]

Thanks Breeze, but when does the two year mark start, when it's reported or when it's filed? I need to know when we can go for a mortgage again...as I think we are loosing our home now too:(

 

From when it happened. It may not show up on your reports until later. FC's are public records, filed with the court, and they are not reported by the court, they are reported by a 3rd party who periodically looks for PR's, and reports them to the credit bureaus. It's still there, and it can be found by anyone who looks for it.

2 Years will start at the day of the transfer (usually the foreclosure sale date)

[seashell73]

I'm curious as to how the posting on the credit report reads. My husband and I foreclosed on our house over two years ago. The foreclosure is complete and the house has been resold. However, on the credit report it still reads foreclosure in process and 180+ late.

 

Is this the norm?

[jmw1212]

Well because I am still in bk7, I guess that's why it's not showing up on my credit report.

 

I'm curious as to how the posting on the credit report reads. My husband and I foreclosed on our house over two years ago. The foreclosure is complete and the house has been resold. However, on the credit report it still reads foreclosure in process and 180+ late.

 

Is this the norm?