Foreclosure Credit Forgiveness Act of 2008

Foreclosure Credit Forgiveness Act of 2008 - Amends the Fair Credit Reporting Act to prohibit the foreclosure on a subprime mortgage of a consumer from being taken into account by any person preparing or calculating the consumer's credit score.

Defines "subprime mortgage" as any consumer credit transaction secured by the consumer's principal dwelling that meets criteria prescribed by the Board of Governors of the Federal Reserve System.