Posted on: 29th Jan, 2009 07:15 am
Help! Back in Nov 2007, I defaulted on my adjustable rate home mortgage and forclosure started. However, I was able to setup a forbearance agreement until I got caught up. So between Nov 07 and Feb 08 I was put on a forbearance. Of course, now on my credit report the mortgage company put "forclosure precedings started" during that time. Now, I am having a hard time refinancing with other lenders, due to this statement appearing, and late pays. Can anyone offer any advice.
The late pays will definately be a problem. You will need to contact the lender to see if they can do something about how the situation is referenced on the credit report.