Post Short Sale Cleanup

Hi Paul…I purchased a house in 2006…got behind on a payment and GMAC would not work with me to bring it current….in Aug 2008 I put the house on the market….GMAC sold my note to Midland and Midland sold the house under a quick sale…they have listed it on my credit as paid in full…..however…GMAC has listed on my credit also…as a foreclosure…the house was never foreclosed on although it was in preforeclosure status at one time….how can I get them to delete themselves off my credit report altogether since they sold my note before foreclosure?

Sharon

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Hi Sharon,

I’m supposing that by ‘quick sale’ you mean ‘short sale’.  The GMAC tradeline is required to be ‘complete and accurate’ per the Fair Credit Reporting Act (FCRA).  If there is something inaccurate or incomplete about the reporting then I’d file a dispute through the credit bureau/s.  Additionally, since it’s still within one year from date of sale, a direct dispute with GMAC under Section 6 of the Real Estate Settlement Procedures Act (RESPA) may be in order.  Be sure to label the dispute a Qualified Written Request.

Read: Misreporting My Foreclosure

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.