When will Foreclosure and HELOC clear from my Credit Report


LoanSafe Member
I did a strategic default on my house in Sacramento, CA. I stopped paying in June of 2012 on the 30 yr mortgage and it was claimed by the bank and reads failed to pay on my credit report on December 2013. The HELOC is the exact same dates. When will the negative reporting stop on these two loans on my credit report? I've heard 7 years. Is there anything I can do to get this off my credit sooner? Thanks in advance!!


LoanSafe Member
You can attempt to write what is called a "Good Will" letter to the servicer reporting the account to your credit report, which is probably your best bet. OR... you could try finding some sort of inaccuracy in the reporting of the account and disputing it based on that. Beyond that - NO... there really isn't anything you can do about it. You should expect this to legally stick to July 1st, 2019.

The good news is - this will be entirely gone, very soon, and because... the default was so long ago, it's not affecting your FICO Score so much anymore. As long as you are current on multiple credit cards and not maxed out, and paying on an installment loan (like a car or student loan)... your fico should be at least in the 660-680 range.

Do a Google Search for MyFico Boards or Credit Boards if you want more information on Goodwill letters, and good luck.