Clearly if the mortgage company has my file in the company's "Foreclosure Department" this might get reported on my credit report as "mortgage-in-foreclosure."
But if I can keep the Lis Pendens from being filed it will never show up in the "Public Records" section of the credit report.
Is there any benefit to bend over backwards to keep a Lis Pendens from ever showing up in the public records? (I mean other than stopping the flood of "offers-to-help" that will show up in my mail.)
The foreclosure will presumably show up in the Derogatory's in the mortgage listing, but not as Lis Pendens in the "Public Records."
Any benefit to bending over backwards to make this happen?
It is impossible to answer your question. If the benefit or lack of benefit to you relates solely to credit reporting, what the credit reporting agencies do and how they do it is proprietary and subject to change. Furthermore, credit reporting by the creditors is inconsistent at best. If they report a mortgage as being in foreclosure when it is not, that may well be actionable as a breach of the FCRA. However, if you file bankruptcy, they are correct if they report the bankruptcy. Whether any ol this makesany real difference down the road is not possible to evaluate in any definitive way.