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tungsvanich · Joined: 07 Nov 2009 Posts: 1 1.36 Dollars($)

My wife and I filed for bankruptcy in 2007 and reaffirmed our mortgage. Well we fell behind and the house was foreclosed upon in November of 2007. The bankruptcy was discharged in February 2008. We have been recently wanting to start looking for another house. Well we checked our credit recently and found that the mortgage appears as "current" on our credit reports.

Shouldn't the mortgage show as "closed" rather than "current"?

Also, we have some credit inquires done after the house was foreclosed upon from the mortgage company. Should those be removed if I dispute them to the reporting agency?

Thank you for any help,

Niicss · Posted: Mon Nov 09, 2009 2:51 am Post subject:

The mortgage will be reported as "closed" if the lender has fully recovered his dues by selling off the property. If the lender did not recover the dues then he can charge off or forgive the payments. This would be mentioned in your credit report accordingly. In my opinion, you should contact the lender and check out as to why they have reported it as current. You can write a letter to your lender asking him to remove the inquiries from your credit report.

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Should a mortgage still show after foreclosure?