Legal Question in Credit and Debt Law in California

We recently completed a Short Sale with American Home Mortgage Servicing Inc and it's reported as Foreclosure in credit report. How do we fix this?


Asked on 7/26/10, 2:55 pm

1 Answer from Attorneys
Dawn VanHorn VanHorn Legal

The way this should be reported is 'Paid for less than owed'. What you may be seeing on your report is the note from the mtg company when the loan went into 'foreclosure status'. When a loan goes into FC status (120+ delinquent) they can correctly report the status as foreclosure.

If you do have an error on the report you can dispute it through the credit bureaus. There is a 45 day dispute process.

Dawn R. VanHorn

Attorney & Counselor at Law

www.VanHornLegal.com

(714) 396-4152

(714) 784-2524 facsimile

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Answered on 7/27/10, 2:50 pm


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