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By admin | November 13, 2020

The business keeping the lien would not re classify it as an Installment financial obligation, it remained a home loan.

The business keeping the lien would not re classify it as an Installment financial obligation, it remained a home loan.

(we had answered prior to, nonetheless it failed to appear to upload if it can later on, forgive any replication) exactly why is here an illogical dual standard in terms of reporting towards the credit agencies after BK?

If the BK is last, the mortgage is settled, beside me, the bankrupt individual owing absolutely nothing. This is certainly, i suppose, the reason why, if the financial obligation is certainly not reaffirmed, it generally does not find yourself regarding the credit file. Therefore, I cannot buy it out without reaffirming it) why is that reported to the credit bureau if I buy out the LEIN (not the loan, because the debt does not exist any more, so? how do i settle an currently settled loan? Fling chapter 7 Bankruptcy now trying the get rid of your credit history, the illogical standard that is double in comparison to “clearing a brain industry” odds are your debt or lien was already from the credit file ahead of the bankruptcy. Your report has old information and needs to be updated. The duty of cleansing your credit file falls for you. In the event that you settled on liens, to have to dispute and send an atisfaction that is lien s into the credit reporting agencies.

I experienced a comparable situation with a customer, and also consulted with ModSpec. When you look at the end, things failed to go well for the debtor.

Borrower re affirmed very first home loan, did absolutely absolutely nothing using the 2nd home loan. No reporting that is negative her credit from brand brand brand new second lien owner. We finally contacted them along with to have the 2nd lien “graded,” and developed a ton of Mortgage lates: fundamentally none built in 36 months. The business keeping the lien didn’t re classify it as an Installment financial obligation, it stayed home financing. Also though they never foreclosed or reported to credit reporting agencies, we got killed whenever we needed to have finished . ranked. Lost her deposit, examination, assessment charges. I experienced a comparable situation with a customer, as well as consulted with ModSpec. Into the end, things failed to get well for the debtor.

Borrower re affirmed very first home loan, did absolutely absolutely nothing aided by the 2nd home loan. No negative reporting on her credit from new second lien owner. We finally contacted them along with to have the second lien “graded,” and developed a ton of Mortgage lates: essentially none manufactured in 36 months. The organization keeping the lien failed to re classify it as an Installment financial obligation, it stayed a home loan. Also we got killed when we had to have the thing rated though they never foreclosed or reported to credit bureaus. Lost her deposit, examination, assessment charges.

Pfhtex or someone else ou may have the ability to help me to here. I am attempting to sell my house and missed the date that is close of a second mortgage lien. We re modified my mortgage that is first in although not the second mortgage, that has been $31000. Never heard thing from Homeq the lienholder on that certain. We kept having to pay my mortgage that is 1st after re modification. I am now attempting to sell the home and 2 times before shutting the name business returned and stated there is a lien that is unreleased the second mortgage. Homeq is going of company and Ocwen was the initial lienholder who transferred second mortgage to Homeq right straight back once I purchased my house. I happened to be really near to foreclosure straight right right back during 2009 and fortunately re modified with Bank of America. We certainly simply scarcely spared the household from foreclosure. Bank of America did not re alter the second mortgage(Homeq) and I also never heard such a thing from their website once again.

Homeq has become away from company and had been servicing the second mortgage in ’09 and there is nevertheless a lien in the second mortgage. Ocwen supposedly purchased them away in 2010. Ocwen does not have any record of buying back once again the mortgage online personal va. I can not shut on attempting to sell the house now me a payoff to get the lien released until I find out which company will give. I am at a dead end. Did Homeq compose it well I foreclosed on the 1st mortgage and if so, how do I figure it out when Homeq is out of business before they went out of business thinking? Undoubtedly i am maybe perhaps not the person that is only the united states that it has occurred to. Please advise, we’d enjoy it. I’M ATTEMPTING TO CLOSE BACK AT MY HOME SELL FAST.