how long does a pre-foreclosure stay on your credit report?

Asked by guzzonedoreen, New York, NY Mon Apr 15, 2013

my house was in pre-foreclosure status, but I sold it before it could be foreclosed on by the bank.

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Anna M Brocco, Agent, Williston Park, NY
Mon Apr 15, 2013
Generally it can stay for about seven years, however you may be able to purchase again with a mortgage in about two years; much will depend on the circumstances that led you to short sale path, your credit/finances at the time of new mortgage, etc.
1 vote
What if I did have my home in pre-forclosure status, but was able to pay the mortgage company back the whole amount that I was behind on the next day (making me current on the loan). Would this effect my credit score?
Flag Wed Jun 14, 2017
Nick Rafello,…, Agent, NY,
Mon Apr 15, 2013
Pre-forclosure is more than likely going to stay with you for 10 years. If you're credit is run, it'll show that you didn't pay your mortgage. This will be a red flag. But keep in mind, if you are caught up and pay everything you owe (i.e. credit cards, mortgage, taxes, etc) for the next 2 years you're credit score will be in good standing and it more than likely will not be an issue. I know this as a family member of mine with through the exact same thing. After two years of struggling to get everything back, they were able to get a car and begin again on a good path.

Good luck.
1 vote
And to be clear, it doesn't reflect that you didn't pay your mortgage if you completed a short sale, but that you settled for less than the original amount. Much different and with so many folks in this situation, creditors are more flexible than you'd expect - especially since it shows you were responsible enough to not walk away from a home but settle the debt...Tom Hinz
Flag Sat May 9, 2015
NOPE! Fair Credit Reporting act only allows 7 years from the date the debtor went delinquent. After that it MUST be removed from your credit report. If it continutes there, you have the right to send credit scoring companies letters and they have 30 days to fix or remove incorrect information.
Flag Thu Aug 22, 2013
Advancewindo…, , Los Angeles County, CA
Mon Aug 26, 2013
I think foreclosure is one of the worst things that can happen to your credit score. It remains on your credit report for seven years and can only be altered followed by material corrections initiated by you. After 7 years of completion, you have the right to request to each of the credit bureaus to have the information removed.
0 votes
sdinfoserv, Both Buyer And Seller, Seattle, WA
Thu Aug 22, 2013
Don't let them lie to you!
Short sales are just as damaging to credit scores as foreclosures.
Both stay on your credit score for 7 years.
After 7 years, federal law requires removal from your credit report.
The KEY date is the date you went delinquent that resulted in foreclosure - typically 60 or 90 days late in payment. NOT the date you were foreclosed on.
0 votes
Diane Tanke, Agent, Algonquin, IL
Mon Apr 15, 2013
Congratulations on successfully short selling your home. Typically, a short sale will affect your credit for about 2-3 years. I would check with your bank for the exact time frame.
0 votes
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