Posted on: 01st Dec, 2009 06:08 pm
my husband received a discharge in bankruptcy chapter 7, we did not put de mortgage(house), but when he see thecredit report the amount is in zero and had that it ischargeoff. What means that, because he want to made a modification he is 2 months late. Thank you for your help and your response.
There is an error in the way your mortgage is currently reporting. You can correct this by disputing the information with the credit bureaus. The easiest and least expensive is to get a copy of all three of your credit reports from www.annualcreditreport.com. You will need to send in a copy of your bankruptcy docs along with a current statement showing the loan is still active. This should not stop you from asking your current lender for a modification though.
Hi mcampos,
If you did not put the mortgage in bankruptcy, you have not been discharged from the debt. Thus, your credit report should not show a zero balance in your mortgage account. If it does, you should dispute that with the credit bureaus. If the mortgage is charged off, it does not necessarily mean the debt is forgiven. It could mean the debt has been sold to a collection agency, which will collect the debt from you. Talk to you lender and find out if the mortgage has really been sold to a collection agency. In that case, you will have to talk with the collection agency regarding the modification.
If you did not put the mortgage in bankruptcy, you have not been discharged from the debt. Thus, your credit report should not show a zero balance in your mortgage account. If it does, you should dispute that with the credit bureaus. If the mortgage is charged off, it does not necessarily mean the debt is forgiven. It could mean the debt has been sold to a collection agency, which will collect the debt from you. Talk to you lender and find out if the mortgage has really been sold to a collection agency. In that case, you will have to talk with the collection agency regarding the modification.