Join the 9 million people who found a smarter way to get Expert help

Recent FCRA questions

CREDIT REPORT CLEARING OF LOAN MODIFICATION 1. What are my

CREDIT REPORT CLEARING OF LOAN MODIFICATION1. What are my options for removing the fact that 10 years ago, my mortgage loan was modified as a result of a predatory loan?2. What is my recourse/action plan to not be "black balled" from getting future loans.ISSUEI have been denied a new mortgage from HUD/FHA because of the reporting of 10year old modifications in 2007 (prior to market crash). This modification was coached for me to intentionally miss payments to allow access to the modification of a $3500 loan to a lower payment.DISCUSSIONThe loan has since been sold to another investor in the last 3 years. As a result, it now shows up twice as 2 loans modified. Since the 2007 modification, not one payment has been missed.I am now applying for a loan for a condo in the midwest so that I can more effectively take care of an ailing 79year aunt.Thank you in advance for your response.

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

115,336 satisfied customers
I foreclosed on a home, my first mortgage was paid in full

I foreclosed on a home, my first mortgage was paid in full and excess proceeds sent to the county treasurer. Without solicitation from me, my second mortgage company forgave a significant portion of the then outstanding balance and sent me a letter reading "[Company Name] has no interest in the property listed above as in a second lien position. The account is closed with a remaining balance of $#,###." Additionally, there were about 5 phone calls with both their loss mitigation and customer service departments where they stated that they forgave the rest of the balance and only the new amount is due which I can pay at any time if I ever want it reflected as such on my credit report.The amount in trust at the treasurer is more than the amount of the remaining balance. Once the excess proceeds were reported I filed for all but the amount owed to the second mortgage company. The second mortgage company then proceeded to dispute interest in the total amount stating I owed the original amount of the Note less principal payments made over the life of the loan. They then supposedly updated their internal systems to now reflect the original amount outstanding instead of the amount they told me and wrote in the letter. Their attorney is claiming that the letter was created in error [which is a joke because after speaking with 5 people who told me the lower amount due, I requested a letter in writing confirming it just in case something like this happened] and that they are entitled to revert back to the original amount owed because I did not pay the lower amount before the excess proceeds were made public.The above mentioned letter reflecting the lower balance is the last item I received in writing from the second mortgage company regarding this matter and has no stipulation such as an offer expiration date or the like.I feel like this letter would be substantial evidence supporting my claim to the excess proceeds less the amount in the letter owed to the second mortgage company. Am I correct or are they really entitled to the full amount of the original note less principal paid even though they stated they forgave the rest?Also, when I meet with the judge and attorney, do I need anything specifically prepared aside from this story? I included a copy of the letter with my original request to release excess proceeds application.

Read more

P. Simmons

Attorney

Doctoral Degree

37,750 satisfied customers
Do mortgage companies have a legal obligation to report 30

Do mortgage companies have a legal obligation to report 30 days late to credit bureaus and are not allowed to remove a late report if the circumstances are reviewed and the late payment was found to be not at fault of the borrower (but still late)?? In other words, do mortgage companies have no autonomy over whether a late report may be removed from the credit bureaus?

Read more

Ely

Counselor at Law

Juris Doctor

68,620 satisfied customers
I rented a house in 2012-2013 with my boyfriend at the time.

I rented a house in 2012-2013 with my boyfriend at the time. we broke up and I moved out and I never signed the new lease and another company took over management of the property. I have been to court for late rent and have told them I never signed the lease and that I moved out. They still keep my name on the lease and I have been going back and forth with them about taking my name off. they even put it into collections and I showed the collection agent the court papers showing that because they did not repair the house like they should, but now it is on my credit report and I want to sue. Can I?

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,130 satisfied customers
I had a 2nd Mortgage with Washington Mutual, I was a self employee

I had a 2nd Mortgage with Washington Mutual, I was a self employee and my 2nd mortgage goes in default and I get a judgement which I pay off the 2nd mortgage. My credit report read as I still owed that money and I have documents from court that shows that I pay off. But the credit report agencies do not correct the situation. I do not know where to go to clear the information, due the Washington mutual was acquire by chase. Could you help?

Read more

Maverick

Doctoral Degree

7,714 satisfied customers
My wife and I bought our home in 2012, and in 2013 she was

My wife and I bought our home in 2012, and in 2013 she was forced to file bankruptcy due to her former employer's cutting all manager salaries by 50%. She did not reaffirm because her attorney said reaffirmations on real estate are seldom done--but she did sign a letter of intent. The mortgage loan was sold in September of last year by Cenlar to PennyMac without us being told it was being done. PennyMac has not reported one single payment to any credit bureau--I understand they cannot under my wife's name, but I was not part of the bankruptcy, which I explained to PennyMac. In April, 2015, I received a letter from PennyMac stating they will report the on-time mortgage payments effective with December 2014 for November and subsequent payments. To date we have no payments reported to any credit bureau, and CBCINNOVIS is saying our refi may not be approved. What recourse do we have?

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

115,336 satisfied customers
PennyMac is reporting a foreclosure when we actually did a

PennyMac is reporting a foreclosure when we actually did a short sale of the property. We have contacted PennyManc to ask for a correction to our credit reporting and they stated that they have updated the comments section (we have yet to see this update but have received a letter to that affect) but they state that they refuse to change the coding from foreclosure to shortsale because they have "processed things as required by law"Question: this has blocked our ability to get a home loan through the lender we are currently working with. Do we have any recourse? Is it possible to compel them to change the coding?Thank you

Read more

Ely

Counselor at Law

Juris Doctor

68,620 satisfied customers
Do you think if my husband's debt if uncollectable because

Do you think if my husband's debt if uncollectable because he is on permanent disability and the homestead exemption is 150,000.00 in Suffolk county ny that he should write the creditors, who most likely are not the proper party to sue, and tell them he has no non exempt assets or income in addition to asking them for a validation of debt?

Read more

Barrister

Attorney/Landlord/Realtor

Doctoral Degree

52,130 satisfied customers
4 months ago I was verbally told that my re-fi /cash out

4 months ago I was verbally told that my re-fi /cash out loan was denied by the bank's underwriters. (I did qualify for the straight refi, but I wanted a cashout). The Mortgage Broker could not seem to tell me WHY I was denied. Credit score was good, househad almost double the equity needed for the cash back I was looking for. Income was good and there is a lot of cash in my bank account (More that the loan amount and the same bank I was trying to get the loan through and it is a major bank). Since then bank'srep I was dealing with has left. His boss has NOT returned my calls. I have NEVER received a denial letter. I even e-mailed, called and sent letters to the bank and the corporate office for a response. I have received NOTHING. Recently they called me to askif I would like to refi. I explained the situation. I said it made no sense to do this all over again if I am only to get rejected again. I asked for them to once again check on WHY I was denied so I can fix the problem whatever it might be before proceeding.It has been a MONTH and once again... No response. Question: They have pulled my credit report at least 3 times (which reduces my score) and I have received NO service. I have never received a denial letter or given any reason why I was denied. could it bemy age (I am 57 and a new loan would take me to 87) What are my options? Can I sue for damages? The Bank branch I was dealing with is in Florida, but my home is in VT.

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

115,336 satisfied customers
View more real estate law questions
In The News