How to close a foreclosure account in the credit report?

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How to close a foreclosure account in the credit report?

The foreclosure was 3 years ago; the mortgage account is still showing as open with a balance.

Asked on May 16, 2012 under Real Estate Law, Illinois

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

So it is not reporting the matter as a foreclosure but an open mortgage amount?  The foreclsoing lender may not have reported the matter.  You realize that a foreclsoure can stay on your credit report for 7 to 10 years?  You can write to the lender and ask that they remove it from the report but it is unlikely that they will do so.  You may just have to wait it out.  Good luck. 


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