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Applying for Mortgage but Have chargeoff history - Risk for Lien?

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Hello All,

 

Its been a while that I have posted.  My previous post was about getting advice on how to go about getting rid of a Charge off in a Collection Agency phase.  I took a collective advice of waiting out one more year before doing anything, and so I am back to get more advice.  (Attached below is my previous post for referral purposes)

 

Its been near 3 years now since I had a bad mishap on my financial and I have since clawed back to paying back most of my debt/loans.  I am now on the phase of trying to apply for a mortgage very soon and I want to try to clean up my credit as best as I can.  I have one charge off on my credit that amounts to about 12k.  It was an Unsecured loan considered as a "Mortgage loan - for home improvements".  At the time, I didn't have any home under my name, and I explained that I was helping out my family on fixing up my mothers old house.  

 

Facts:  The account was a TD bank and "Chargeoff" on 9/6/2017, for $11,962.40.  with the last payment on 4/24/2017 with made the balance to 0 by 10/2017. 

I began receiving calls from Collection Agency soon after. 

 

Started receiving offers to pay less of $11,962.40 from NCBManagement around 1/2018(sorry forgot what to keep the mail)

3/1/2018 - 6/1/2018 offer was $8373

 

on 9/2018 I started receiving offers to pay less now from a different company called Radius Global Solution.

offers was $5981 from around 9/2018-12/2018.

 

I am not entirely sure when the mail offers actually stopped coming in 2019, but they did stop. And upon the advice I received here, to wait until 2020, I told myself I will come back her to get more info. 

 

2020-  My journey to purchasing a home with my gf.  We went to the bank to see if we can get preapproved/prequalified.   I was met with a question regarding my history of charge off.  and I was adviced to look at my report and see if I can dispute any.  Off to pulling my report from the 3 Bureaus. 

 

Upon inspection here is as follows that I see that may not be "accurate". (please advice if so/notso)

 

on Equifax: Last payment was april 1st 2017
actual: april 24, 2017
equifax chargeoff amount was 11922
actual: 11962.40
*equifax balance state: 11962.00 equifax amount past due 11962.00 Date reported: 11/30/2019*

I rechecked my account in TD, and it states that the balance is $0.  but equifax reports this recently on 11/30/2019 that its charged off with balance 11962.

 

On Transunion:

Charge off shows: 9/2017-10/2017 - 0 balance then 
11/2017 to 3/2018 no data
 then 4/2018 - balance is 11922, 
then 05/2018- 11,962 
then 06/2018 & 07/2018 11,922
then 08/2018 to 09/2019 - $1,192 (thats right only $1,192 instead of 11,922 a month earlier)
then 10/2019 no data
then 11/2019 balance 11,962 (chargeoff again)

 

transunion report leads to believe that on 10/2017 - it should show 0 balance, then for some reason balance got messed up to 11922, corrected to 11962, then messed up again to 11,922, then messed up on 8/2018 to 9/2019 (a full year of report) of 1,192.  then no data on 10/2019, then im guessing correction on 11/2019 where it was reported AGAIN as chargeoff of 11,962. 

 

I really am looking for any advice on how to go about disputing these inaccuracies.  Id like to give thanks and appreciation for all the help that Whychat and Rocket gave last year.  

 

Also, My financial advisor mentioned something regarding the risk of putting the house under my name in part due to the chargeoff and the possibilites that a Collection Agency can put a Lien on the property that I buy.   Can anyone comment on this? 

 

 

Edited by Ricjason8

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Don't really see much to dispute there as inaccurate. There's no reason for it to show $0 balance when you haven't paid it.

 

As far as the lien, yes, it's possible a creditor could get a judgment against you and put a lien on property you own depending on your jurisdiction. That's why mortgage UWs require you to settle or pay any COs before getting approved. 

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The reality is that most fields on a report are keyed to a month and year, not a specific date.  A paper report may show the specific date, but even that is not going to be a certainty.  What IS a certainty is that it won't get you relief on a dispute, no matter HOW well written it might be or even how well you could articulate the argument in court.  In fact, a wise judge who was quick on the uptake would even remind you that a date of April 1 instead of April 24 has actually helped you by about three weeks...which means you have no harm that has been suffered by the data limitation.

 

In litigation, you would ALSO need to be prepared to respond to the Defendant's argument that you have come to court with unclean hands.  You admit you owe the money, the only quibble is with a few dollars.  That is NOT something that is harming you nor is it impacting the decision of other potential lenders.  The ONLY thing you MIGHT get is that, in the same Order awarding you nothing other than the ability to pay costs incurred by the Defendant, you MAY get a paragraph of declaratory relief directing the data furnisher to fix what is essentially a rounding error...

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All the FCRA requires is that they correct inaccurate information. It appears that they corrected what looks like a couple of typos. As for the ZB, check with TD again and see if they sold the debt. That could be the reason for them reporting a ZB at one time. Is it still them reporting, or someone else?

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Found out that they have been reporting my loan as Secured Mortgage loan, rather than Unsecured loan.  Does that justify as inaccurate information?

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37 minutes ago, Ricjason8 said:

Found out that they have been reporting my loan as Secured Mortgage loan, rather than Unsecured loan.  Does that justify as inaccurate information?

what exactly do the paper copy copy of reports mailed to you by each of the four major CRAs state?

 

If you dispute as unsecured versus secured you are basically admitting it is your tradeline. I'd bark up a different tree.

Edited by hegemony

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2 hours ago, Ricjason8 said:

Found out that they have been reporting my loan as Secured Mortgage loan, rather than Unsecured loan.  Does that justify as inaccurate information?

And, as we advised earlier in this thread...what precisely are you offering in your harm analysis?

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