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Foreclosure Question

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Many moons ago I pulled the below off of some web site. Can't remember which but I kept it as the answer to your question is not so clear cut. At the bottom of the quote is the link to the case referred to:


Court Rules on Foreclosure Reporting to a Credit Reporting Agency
by Scott Lundberg, Lundberg & Associates (USFN Member — UT)

Although a borrower previously surrendered property during a bankruptcy case, a mortgage lender’s reporting of a foreclosure to a credit reporting agency is not a report of inaccurate information in violation of the Fair Credit Reporting Act (FCRA).

Vlasic v. Equifax Credit Information Services, No. 03 C 4044 (N.D. Ill. 5/10/04), involved a situation where the borrower filed a Chapter 7 petition indicating his intention to voluntarily surrender the home to the lender. Having obtained bankruptcy court permission, the lender foreclosed on the property.

The borrower then sued the lender, claiming it violated the FCRA by reporting inaccurate information on the credit report when it reported the foreclosure. The lender moved successfully for judgment on the pleadings.

The lender’s argument was that it did not report any inaccurate information. The surrender of the property in bankruptcy did not transfer title to the property. The borrower argued that the reporting was inaccurate because the credit report affected him personally, even though the foreclosure only affected the property.

In this case, the court sided with the lender.. . .
___________

For the full ruling go to:

Vlasic v. Equifax Credit Information Services - Google Scholar

Hope the link works and this info helps.

Des.
 
Last edited:



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