Posted on: 28th Oct, 2010 04:01 pm
my wife and i did a deed in lieu of foreclosure approximately 2 years ago. we only missed one mortgage payment. this was and is the only payment either of us have ever missed in our lives. i'm 49 and she is 35. our problem is this. the bank reports it as a foreclosure every month with a comment that it was a deed in lieu. our credit is completely destroyed and everything we do makes no difference as they continue to report it this way every month. is this legal? the bank got the deed to our home and they continue to shaft us every month.
Hi dhunter!
Welcome to forums!
If your property has been sold off at a deed in lieu of foreclosure auction, then you don't own the house any more and you don't have to make any payments. The lender should not report the account any further to the credit bureaus. You should contact the bank and ask them to stop reporting the mortgage on a monthly basis to the credit bureaus.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your property has been sold off at a deed in lieu of foreclosure auction, then you don't own the house any more and you don't have to make any payments. The lender should not report the account any further to the credit bureaus. You should contact the bank and ask them to stop reporting the mortgage on a monthly basis to the credit bureaus.
Feel free to ask if you've further queries.
Sussane
The bank still owns my house and hasn't sold it yet. I don't have to make payments anymore as We did a deed in lieu where the bank wrote off the loans for the deed. They do continue to report it as a foreclosure every month to the credit agencies.
Hi dhunter!
Welcome to forums!
As the property has not been sold off by the lender, he has the rights to report it to your credit bureaus. You should contact your lender and ask him to sell off the property asap.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the property has not been sold off by the lender, he has the rights to report it to your credit bureaus. You should contact your lender and ask him to sell off the property asap.
Feel free to ask if you've further queries.
Sussane