Real Estate Law
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Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.
What state are you in?
Under NC law, the lender has a right to seek a deficiency judgment against you for the amount remaining after the foreclosure sale.
However, the lender only has 3 years to sue, and after that, the debt is not collectible. Similarly, the deficiency can stay on your credit report for 7 years or until the statute of limitations has run on collecting the debt.
In either case, the listing on your credit would expire in 2011. Unless your home was foreclosed between now and the end of the year, the time has already expired.
Thus, you have a right to file a complaint with the Federal Trade Commission under the Fair Credit Reporting Act and ask for help in getting this removed. Here's a link to the complaint you can file: https://www.ftccomplaintassistant.gov/