Posted on: 25th May, 2011 04:39 pm
january 2007 my condo was sold at foreclosure auction. why does the 1st mortgage show up as a foreclosure on my credit report but the second mortgage shows up as a charged off acct?
i know that the auction selling price was enough to cover both mortgages. i have sent gmac a fax asking them to investigate then contact the credit bureaus to show a zero balance. am i on the right track?
pc
i know that the auction selling price was enough to cover both mortgages. i have sent gmac a fax asking them to investigate then contact the credit bureaus to show a zero balance. am i on the right track?
pc
Yes, if your home was sold at foreclosure, the process is the foreclosure fees to trustee, the first mortgage, junior mortgages and left over to the original borrower. So if you know for a fact that your home was sold for enough to cover all the fees and the 1 mortgages, then your account should show that its paid. If you loan was extremely delinquent before foreclosure, the 2nd could have charged off the loan before foreclosure. When is the charge off date and when was the foreclosure?
Hmm,
WOW~ You already answered thanks!
Don't have the dates of the cuz I don't have the credit rpts in front of me right. But this information helps a great deal. Based on your reply I think I should be able to get my credit rpt fixed! My score is already @ 643 so maybe I will be able to start getting even better scores!
Pc
WOW~ You already answered thanks!
Don't have the dates of the cuz I don't have the credit rpts in front of me right. But this information helps a great deal. Based on your reply I think I should be able to get my credit rpt fixed! My score is already @ 643 so maybe I will be able to start getting even better scores!
Pc
You are allowed to pull your own credit for free with no credit card, or fees, once a year, by law...www.annualcreditreport.com just answer a few questions and you get your report. Good Luck
Hi paris!
Welcome to forums!
I agree with what Chris has said. You will be able to dispute the matter with your lender as well as your credit bureaus. You should immediately contact your lender and ask him to remove the charge off account from your credit report. This will not only help you better your credit report but will also help you in raising your credit scores.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with what Chris has said. You will be able to dispute the matter with your lender as well as your credit bureaus. You should immediately contact your lender and ask him to remove the charge off account from your credit report. This will not only help you better your credit report but will also help you in raising your credit scores.
Feel free to ask if you've further queries.
Sussane
I go with smith. As said, please contact your lender immediately and insist him to remove charge off account.