Metro 2 account status code 89: deed in lieu of foreclosure
You signed the property over to the mortgage lender to settle a defaulted loan instead of going through foreclosure. Depending on your agreement and state law, a balance can still be owed afterward. A payment rating goes with this status.
How it shows on your report
"Deed in lieu" or "Deed received in lieu of foreclosure," with a closed date.
How it affects your score
A major negative, close to a foreclosure in its effect on scores. Some mortgage programs set shorter waiting periods after a deed in lieu than after a foreclosure.
What to check
If your agreement waived any remaining balance, the account should show $0 owed. A deed in lieu should not be labeled a foreclosure, because mortgage programs treat them differently when setting waiting periods. Check the date against your signed documents.
If this code is wrong on your report
- Metro 2 explained: the data format behind your credit reportHow lenders send coded data to the bureaus, and how disputes travel back to them.
- How to dispute a credit report error, step by stepA step-by-step guide to disputing credit report errors with Equifax, Experian and TransUnion: online vs. mail, what to include, and how to keep proof.
- Letter builderWrite dispute, goodwill, validation and identity theft letters. Free, printed by you, sent by you.
Glossary: account status code, Metro 2
Sources
- Metro 2 Account Status Codes (Bureau Relay, formerly metro2.switchlabs.dev)
- Account Status Codes (The Mortgage Office help center)
- Handling Metro II Account Statuses (Oracle Financial Services Lending and Leasing documentation)
These explanations are ScoreTuner's plain-English summaries. The official specification is the CDIA Credit Reporting Resource Guide, which is copyrighted and not reproduced here. This is education, not legal advice.