Wednesday, March 23, 2011

Can I remove a short sale from my credit report?

[caption id="attachment_8877" align="alignleft" width="150" caption="Don't be the victim of a credit repair scam"]two human hands grabbing a set of stacked coins[/caption]

Had an interesting question this morning from someone who's using our The Phoenix Agents Search All Homes feature. Thought I'd share my answer in case any of our readers have also been presented with this credit repair scam.


Question - My wife has a previous short sale on her record and we've recently discovered that the lender reported the last payment 30 days late.   A California lawyer promised to help us correct our credit report. He said he couldn't get the 30-day late payment off the record but could work towards getting the entire short sale expunged for a mere $2600.  It makes me nervous.


Answer - You should be very nervous about anybody who claims they can remove a short sale from your record, especially if they want money for it.  See these websites which explain no one can remove negative information from your credit report if the information is accurate.


http://www.fraud.org/tips/internet/creditrepair.htm
http://www.ftc.gov/opa/2008/09/lhcr.shtm
http://www.ftc.gov/opa/2008/10/opcleansweep.shtm

Browse our other Credit Management articles.  Or, visit some of the credit management sites listed on our blogroll.