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Short Sale shows as Foreclosure on Credit Report

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Icon Mini Profile gregpalmersheim





Joined: 05 Apr 2011

Posts: 1

1.30 Dollars($)
Post Posted: Tue Apr 05, 2011 4:02 am    Post subject: Short Sale shows as Foreclosure on Credit Report
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Due to economic conditions and the inability to get my mortgage lender to consider a loan modification I was forced to short sale my Arizona home. The whole process took approximately five months and the mortgage company agreed to the sale but now my credit report shows a foreclosure and not a short sale. What can I do to correct this and what steps can I take to rebuild my credit?
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10531
Location: ALASKA
1085.02 Dollars($)
Post Posted: Tue Apr 05, 2011 7:59 pm    Post subject:
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Hi gregpalmersheim,

You should contact your mortgage company and ask them to rectify the status of the account in your credit report. Once they update the status, it will be mentioned as a short sale and not a foreclosure.

You can take a look at the given page in order to know the required steps to improve your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html

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