Foreclosure accounts stay on your credit report for up to seven Years from the date the courts report them.

What most people are not aware of, is that when the credit bureau reports a foreclosure to your credit report, they report it with a balance of hundreds of thousands of Dollars or Millions, depending on your loan agreement, whatever amount was owed when your property went into foreclosure, that’s the amount they report as “Balance owed”.

Let me explain something that perhaps you’re unaware of. When you go into foreclosure, it simply means, you didn’t pay, therefore they take the title and the keys to your property, they want two options, pay them your mortgage or pay with your keys. Now, if the Bank foreclosed your property, it means they got paid, you don’t owe them a dime, therefore your credit report should reflect a zero balance.

This is when we come in, this is where we have enough knowledge, by eliminating the balance reported on your foreclosure from your credit report, your credit score increases by up to 60 points in one Month. Though many times you get very lucky and we delete the reported foreclosure from your credit report without waiting for seven Years. Note: though we may be able to delete it completely from your credit report, does not mean we delete it from the court system, however, what is it that lenders look at when you apply for a loan?. Your credit report, correct?. Enough said.