Better Credit
Make your credit count with iCreditRepair.com Your credit should lead you to more opportunity. Repair your credit and get approved for credit lines:
Lower Interest Rates Good Credit Cards Personal loans
Mortgages Apartment Occupancy Auto Lease
Bank Accounts Cell Phone Contracts Insurance
Refinancing Utility Accounts Student Loans
Reach a Credit Repair Consultant and make your credit count!
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Foreclosures
Foreclosures & Credit Checks
Property owners who cannot pay their mortgage end up in foreclosure. The bank will claim ownership over the house if the payments are not made. After three late payments most banks begin the foreclosure process and notify the owner of their default status. If the owner is able to pay the money owed when they receive a letter of default, then the foreclosure process will pause. But if the owner can’t pay at all, the house will be sold by the banks at public auction.
Any late payments will probably be reported to the credit bureaus. If the foreclosure process is completed, the bank will take possession of the house and sell it. A foreclosure can stay on your report for 7 years. Evidence of foreclosure will not be removed from your credit report unless proper steps are taken.
Remove Foreclosure
As soon as you miss one payment or make a late payment, you risk being placed into default status for your home loan. Perhaps you have sold your house and did not foreclose but foreclosure proceedings have been filed against you. If this is the case, evidence of a bank filing a foreclosure suit will show on your credit report but it can be disputed. Contact us today for a free consultation to learn what we can do for your credit report.
