Jump to content




Welcome to CreditBoards!


Sign In 

Create Account
Welcome to CreditBoards! Like most online communities, you must register to post in our community, but don't worry - this is a simple process requiring minimal information for you to sign up. Be a part of CreditBoards by signing in or creating an account.
  • Start new topics and reply to others
  • Subscribe to topics to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
 
Guest Message by DevFuse

Read These Items!

  • Please note changes to the Terms of Service for Creditboards.com.  A "plain language" summary has been added to the TOS and to the registration agreement.  No other changes were made.  If you post after you read this, we consider that acceptance of the new terms.  If you have any questions concerning the new terms, please feel free to PM an admin or email admin@creditboards.com
  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.
  • Yo!  AOL email is bouncing and they aren't giving us a way to get off their blacklist.  If you're registered with an AOL email address and you have another one you can use in your settings, please change your email on record, so you can get the notifications you're expecting.


Photo

Mortgage payments/credit reporting question.


  • Please log in to reply
4 replies to this topic

#1 OmniCamaro

OmniCamaro
  • Members
  • 331 posts

Posted 16 February 2017 - 11:55 AM

I'm unsure where exactly to post this, I thought I'd start here and go from there.

Here's the facts: Ocwen (horrible company), who took over our mortgage when we filed bankruptcy is reporting a 120 late for 5 months on our reports. Their reporting states 120 days late from November 2014-March 2015. I have proof that they accepted a payment (from the trustee) in December 2014. Can they legally be reporting 120 days late with that payment being made? This entire time is when we were attempting to do a modification, for which they through up every roadblock you can imagine, right down to denying it based on a signature "problem" that only they saw as being "wrong".

Anyway, any ideas will help.


Sent from my iPad using Tapatalk



#2 tiggerlgh

tiggerlgh
  • Members
  • 3,217 posts

Posted 16 February 2017 - 12:45 PM

When did you file for BK?  What chapter?  When were you due for in December? 

 

I need more information to fully answer your question. 



#3 OmniCamaro

OmniCamaro
  • Members
  • 331 posts

Posted 16 February 2017 - 09:07 PM

Mmmm, I'm trying not to over complicate the question with information. If you know what I mean?

Here's your visual:
221d54a48a680679cd2be409949fc54d.jpg


Sent from my iPad using Tapatalk

#4 breeze

breeze

    Site Owners

  • Admin
  • 53,433 posts

Posted 17 February 2017 - 01:31 PM

When did you file for BK?  What chapter?  When were you due for in December? 

 

I need more information to fully answer your question. 



#5 Kuuner

Kuuner
  • Members
  • 816 posts

Posted 15 June 2017 - 04:42 PM

If your modification boarded around April, and you were delinquent prior to that date, looks like they are reporting it correctly. I'm confident that in your loan mod paperwork, it will say that any payments that are delinquent prior to execution of the loan mod could more than likely be reported as late if you are not actually contractually current. Also, while in your bankruptcy, there is no prohibition from reporting your credit late if you were in fact late. Taking and posting a payment from the trustee does not mean you are current if you weren't contractually current. BK doesn't wipe out late payment history even while your in BK. Trying for a loan mod doesn't wipe our historical late payments either. Some lenders report differently and give you a benefit you might not be entitled to by showing your debt as IIB and wiping out all history. Some lenders don't.

 

When I posted on this site a few years back, I recall long diatribes about what can and cannot be reported to the bureaus for a borrower in BK and to date, I've not seen any statute or code that prohibits a lender from reporting actual performance up to the discharge date. We report actual performance until discharge. Our compliance department and our legal department support that process that we employ and we've had it challenged in court and through disputes and have yet to make any change to that process. That's not to say we are right or anything like that, just that it seems like it's being reported correctly on the screen shot you gave.

 

Also, you now have two years of clean payments on your loan. That's a good thing (Assuming you haven't gone delinquent since April 2016). I'm assuming your mod is fine and your BK is progressing and should be closing soon (Assuming you are in a 13). If all of those statements are true, my two cents is you are losing sleep over nothing. You filed bankruptcy. That did more damage that old 120's on your credit. You can demonstrate and document that you have a clean history from the date of the mod and if it were me, I'd focus on something else. It's not me and it might be important to you to have it show as not being late because you were trying to do a mod and because your trustee was submitting payments. The way you think it should work and report might not be the way they report it. It sucks but that's usually the case.


Edited by Kuuner, 15 June 2017 - 04:48 PM.





1 user(s) are browsing this forum

0 members, 1 guests, 0 anonymous users





© Copyright 2003 - 2015 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.