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If foreclosure proceedings are started but the loan was reinstated will it show negatively on a credit report?

In: Credit Reports, Foreclosure [Edit categories]

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Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report.

I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".

First answer by Debtkid. Last edit by Debtkid. Contributor trust: 19 [recommend contributor ]. Question popularity: 174 [recommend question].

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