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DeadMoneyDrew

BofA short sale complete but still reporting as open/late

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On February 14th I completed a short sale with Bank of America. The property is finally out of my hands after a lengthy battle.

 

As of today, all three of my credit reports are still showing the account as open and 120+ days past due. On none of the reports is the line item reported as closed or settled for less, and the remaining balance is being factored into my overall credit usage. I made the last payment in October 2016. On all three credit reports the last date that the line item was reported was February 10th, 2017.

 

Initially I was going to opt out of as many data aggregators as possible, wait for Bank of America to update the line item as closed, and contest the line item as not mine. I figured that at the minimum, I would be opted out of a bunch of tracking, and if the credit bureaus declined to remove the line item then so be it. Life got in the way, though, and I only got as far as having all of my old addresses deleted and opting out of LexisNexis.

 

What's my play here? I know that I should probably contest this as an incorrectly reported account, but I fear that if the credit bureaus request an update then Bank of America will simply confirm it and then report it as closed and settled for less. Then I won't be able to contest it as not mine.

 

Should I just go ahead and report it as incorrect, and hope that Bank of America fails to respond?

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Thanks Ican....great resource you provided.

Actually, thank Marvbear, I just provided the link

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