How come here an illogical dual standard whenever it comes down to reporting towards the credit agencies after BK?

How come here an illogical dual standard whenever it comes down to reporting towards the credit agencies after BK?

How do I settle an currently settled loan?

(we had replied prior to, nonetheless it would not appear to upload it comes to reporting to the credit bureaus after BK if it does later, forgive any duplication) Why is there an illogical double standard when? Once the BK is last, the mortgage is settled, beside me, the bankrupt individual owing absolutely nothing. That is, i suppose, the good reason why, in the event that financial obligation just isn’t reaffirmed, it generally does not wind up regarding the credit file. Therefore, I cannot buy it out without reaffirming it) why is that reported to the credit bureau if I buy out the LEIN (not the loan, because the debt does not exist any more, so?

How to settle a currently settled loan? Fling chapter 7 Bankruptcy and from now on trying the clean up your credit history, the illogical dual standard is in comparison to «clearing a head industry». It’s likely that the lien or debt had been in the credit file ahead of the bankruptcy. Your report has old information and has to be updated. The obligation of cleansing your credit file falls for you. In the event that you settled on liens, to need certainly to dispute and deliver a lien satisfaction letter s towards the credit agencies. I’d a comparable situation with a customer, as well as consulted with ModSpec. Into the final end, things would not get well for the debtor.

Borrower re affirmed very very first home loan, did absolutely absolutely nothing with all the mortgage that is second. No negative reporting on her credit from brand new second lien owner. We finally contacted them and had to really have the second lien «graded,» and created a ton of Mortgage lates: fundamentally none produced in 36 months. The organization keeping the lien failed to re classify it as an Installment financial obligation, it stayed home financing. Also we got killed when we had to have the thing rated though they never foreclosed or reported to credit bureaus. Lost her deposit, assessment, assessment costs. I’d a comparable situation with a customer, and also consulted with ModSpec. Within the final end, things would not get well for the debtor personal loans online washington direct lenders.

Borrower re affirmed very very very first home loan, did absolutely absolutely nothing using the mortgage that is second. No reporting that is negative her credit from brand new second lien owner. We finally contacted them along with to truly have the second lien «graded,» and developed a ton of Mortgage lates: fundamentally none built in 36 months.

The business keeping the lien would not re classify it as an Installment financial obligation, it stayed home financing. Also we got killed when we had to have the thing rated though they never foreclosed or reported to credit bureaus. Lost her deposit, examination, assessment costs.

Pfhtex or someone else ou may have the ability to assist me personally right right here. I am attempting to sell the house and missed the close date because of a second mortgage lien. We re modified my very first home loan last year however the second mortgage, that was $31000. Never heard thing from Homeq the lienholder on that certain. We kept spending my mortgage that is 1st after re modification. I am now offering your house and 2 times before shutting the name business came ultimately back and stated there is an unreleased lien on the next mortgage. Homeq is going of business and Ocwen ended up being the initial lienholder who transferred second mortgage to Homeq straight right straight back once I purchased the house. I happened to be extremely near to foreclosure straight back during 2009 and fortunately re modified with Bank of America. We absolutely simply scarcely spared the household from property foreclosure. Bank of America did not re change the next mortgage(Homeq) and I also never heard such a thing from their store once more.

Homeq is currently away from business and had been servicing the next mortgage last year and there is nevertheless a lien regarding the second mortgage. Ocwen supposedly purchased them away in 2010. Ocwen does not have any record of buying back once again the mortgage. I can not shut on attempting to sell my house now me a payoff to get the lien released until I find out which company will give. I’m at an end that is dead. Did Homeq compose it well before they sought out of company reasoning we foreclosed regarding the first home loan of course therefore, how can I figure it down whenever Homeq may be out of company? Clearly i am maybe maybe not the person that is only the united states that it has occurred to. Please advise, I would be thankful. I’M WANTING TO CLOSE TO MY HOME SELL QUICKLY.

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