How to Remove a Foreclosure from Credit Report

By Contributing Writer

  • Overview

    A foreclosure can be a destructive item to have on your credit report. Many organizations deny people apartment rentals, home sales, mortgages, and even jobs based on the fact that these individuals have been through the foreclosure process. However, many other organizations don't look down on a foreclosure as greatly, because so many people have been through the exact same foreclosure process. A foreclosure in the United States typically stays on your credit report for 7 years. But there are some things you can do to try to negotiate that length of time.
    • Step 1

      Locate the name and address of the three main credit reporting agencies: TransUnion, Equifax and Experian. Write each of them individual letters, and send these letters certified mail, return-receipt requested, so you have proof of the dates you mailed them. In these letters, indicate that you are disputing the foreclosure on your credit report. They each will then launch an investigation into whether the foreclosure is accurate.
    • Step 2

      Follow up with these letters in 30 days. Credit reporting agencies must complete these investigations within 30 days or remove them from your credit reports. Because many times these credit reporting agencies are backlogged with disputes, they often do not complete the investigations in time.

    • Step 3

      Hold the credit reporting agencies accountable if they miss the deadline. Contact them immediately by letter again on day 31, indicating that they must complete these reports within 30 days or remove the disputed item from the report. Many times this does the trick and removes your foreclosure from your credit report. Hire an attorney, if you deem it necessary. Oftentimes, a letter from an attorney can remove a foreclosure from a credit report faster than a letter from the consumer himself.
    • Step 4

      Check your credit report regularly for your foreclosure, once you get it removed. The mortgage bank who issued your foreclosure can re-report it at any time, and it will appear back on your credit report.
    • Step 5

      Wait out the 7 year's time. This is a sure-fire way of having it removed from your credit report. Once the 7 years have passed, be sure to check your report. Sometimes you have to write a dispute letter again, notifying your credit reporting agencies that the 7 years have passed.
    • Skill: Challenging
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