Just because you have a foreclosure on your credit, it doesn’t mean that the actual reporting of this item is accurate. If you had a foreclosure and the first mortgage still shows as open, it has a balance OR it shows a monthly payment is still scheduled—we want to help you AT NO COST.
Below, you will find more detailed information on this issue.

Nevada was at the center of the economic collapse of 2008, the top 23 of the 25 zip codes for foreclosures in the US were Clark County zip codes.

Many foreclosures and short sales happened in Nevada, one of our partners, The Cogburn Law Office completed over (number).

What we have found in recent years is a high number of consumers that tried to get back into homeownership or to simply get their credit back on track and one disturbing trend seems to continue to be an issue.

Thousands of consumers that had loans guaranteed by Fannie Mae and Freddie Mac have major credit reporting issues—issues that will cause a denial of extension of credit, denial of a security clearance and general credit damages.  The issue is that many consumers with a short sale are seeing the word foreclosure on their credit report.

In the mortgage world, this is an automatic denial, unless you are prepared to place a huge down payment on your home and pay a higher interest rate.

Fannie and Freddie issued the following guidance to loan servicers:

Mortgage accounts, including first liens, second liens, home improvement loans, HELOCs, and mobile home loans, will be identified as a foreclosure if there is a current status or manner of payment/MOP code of “8” (foreclosure) or “9” (collection or charge-off);

This language is hyper-technical language regarding credit reporting. It is essentially this:

An instruction from Fannie and Freddie to the banks and to the credit bureaus that even though foreclosure proceedings haven’t proceeded, it is ok to place the word foreclosure on the credit report.

This guidance is in direct violation with NRS 107.087 which outlines the process of foreclosure.

The use of the word foreclosure is a violation of the  FCRA,  as the furnisher (s) of information (servicers) and the credit reporting agencies are prohibited from willfully provide inaccurate information. We can prove the violation and that the consumer has credit and economic damages (rent vs mortgage, etc) as a result.

We will assist you to correct this issue at no cost.  If we are not successful we will provide (at no cost to you) an expert witness report to one of the attorney’s in our network.  The attorney will file suit under the FCRA.  You will receive:

Legal assistance at no cost to you

Credit reporting will be repaired

Statutory damages of up to $1,000

IF you have been denied a mortgage because the word FORECLOSURE is on your credit report and you had a short sale and no Notice of Default was filed, we will help you to fix these errors now.  Call us at 702-778-2000.