Re: getting foreclosure off credit report

First of all, you should write to all 3 credit reporting services and explain the circumstances. Attach a copy of the marital settlement agreement and any other documentation you have to verify that it wasn't your legal responsibility to pay the mortgage after the divorce, and therefore it shouldn't count as a black mark against your credit record.

When you apply for a mortgage, be prepared to show the same documents to the loan officer and tell him/her up front about your situation. If it's going to be a problem, no sense wasting your time and money applying for the loan. Good luck!

Re: getting foreclosure off credit report

You need to write to the Big Three credit reporting

agencies (they are: http://www.equifax.com/consumer/product/select/web/choice;

http://www.experian.com/consumer/credit.html; and

http://www.transunion.com/Consumer/) and ask them to

send you information on how to go about having the

information you have given here included on your

credit report.

Next, be ready to take that settlement agreement

with you whenever you try to obtain credit.

Finally, the sad fact is you need to be ready to run

into trouble. The fact is that you are probably (I

haven't read the agreement but it sounds standard

enough that I am making some assumptions here) legally

still obligated on that mortgage. You have a contract

against your husband if he fails to hold you

harmless as promised, and you can sue on that contract,

but he can wipe that out by declaring bankruptcy and

the lenders you approach will be aware of this. In fact, you should check into the details of the foreclosure.

If there was a deficiency balance due and your ex decides

to skip paying it or, worse, declares bankruptcy,

you could have a real problem since your name is

still on that mortgage.

Sorry to be the bearer of bad news but better to know

what you are up against than to fly blindly into the

breach...