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Foreclosure/illegal foreclosure


QUESTION: My boyfriend foreclosed on his house.

He was in the army and his mother was living in the house. He was sending monthly payments to her but she was spending the money on drugs.

He paid over $10,000 on the house while he was in the army.

However he hired a lawyer and learned later that the bank (bank of america) had foreclosed improperly/illegally, so he went to court and BoA settled with him on the foreclosure, and he won $5000.

Will the foreclosure still be on his credit?

if a foreclosure is on your credit, how long does it stay there?

ANSWER: the foreclosure will show on his credit and can remain on there for upwards of 10 years

---------- FOLLOW-UP ----------

QUESTION: if it is there for 10 years, how will that affect his (or our) future? (which is my main concern?)

even though it shows on your credit report you can ask the credit bureau to allow you a hundred word statement to explain the circumstances which should enhance your credit borrowing ability in the future. there are companies that can help you get your credit rating up like Lex law.  They are some what pricey but effective.


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James D. Clardy


I have spent the last twenty-five years saving homes from foreclosure in South Carolina. I have extensive experience negotiating with lenders. I have postponed foreclosures for up to four years before the lender finally gave in and let my client keep her home "This is my specialty". One should never give up, even if you think it’s impossible. I know the ropes and can slug it out with the best of them. I can answer questions about what “to do” and what “not to do” during the foreclosure process as well as the pre-foreclosure and post-foreclosure process.


Twenty-five years of stopping foreclosures in South Carolina, to include properties both listed by Realtors and those owned by banks. Foreclosure properties to include pre-foreclosure and post-foreclosure , and what to do next.

I was a Real Estate Broker in South Carolina for the past twenty-seven years.

I have written several articals on E-How

Some college

Past/Present Clients
Thousands over the last twenty seven years

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