Legal Question in Credit and Debt Law in Minnesota
Foreclosure Reported on Credit Report in Minnesota
I was told that in Minnesota, foreclosures cannot be put on your credit report. In fact, my house was foreclosed on about 5 years ago, and it never showed up on my credit report, so I thought this to be true. The foreclosure just recently showed up on my credit report and lowered my credit score about 60 points. So, is there a MN State Law that says it cannot be on your credit report or not? Has this never been the case? Or has the law just recently changed? Or have I just been lucky til now?
1 Answer from Attorneys
Re: Foreclosure Reported on Credit Report in Minnesota
A foreclosure may always be reported to a credit reporting agency since it is a debt that was unpaid. There has never been a law precluding that result.
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