My mortgage payments are not being reported to the credit bureaus

rackon · Joined: 27 Oct 2009 Posts: 2 1.75 Dollars($)

My husband and I went through bankuptcy approximately 5 years ago. We had both our home loan and our auto loan through Wells Fargo. I'm not sure if it was an oversight on our attorney's part, but the auto loan was reaffirmed, the home loan was not. Since then, I have paid off the auto loan and have continued to make mortgage payments (never being late once in the past five years). However, supposedly, because the loan was not reaffirmed, my timely payments to Wells Fargo mortgage department are not being posted to our credit report. As far as the credit reports show, I do not own a house. I've tried contesting it with the credit bureaus, but they simply say the mortgage was discharged. Funny, I'm still paying property taxes and mortgatge payments, but as far as anyone else is concerned, I don't own a home.

Is there anything that I can do that would require Wells Fargo to report my payments to the credit bureaus? We've tried to refinance with them, but they are unwilling to do so. We thought that if we could refinance, that would then require them to report our payments. We've also tried refinancing with another company, however, they say we don't own a home.

Do you have any advise?

Thank you.

gmakerley · Posted: Tue Oct 27, 2009 9:16 am Post subject:

"We've also tried refinancing with another company, however, they say we don't own a home."

what kind of company did you go to? how in the world can this happen? do you have documentation that proves your ownership of a home? did they simply not believe you - all because your mortgage isn't on the credit report?

i've seen some ridiculous things mentioned up here, but this is most definitely top 5. go to another lender. take your proof of ownership (tax bills, deed, etc.), and take your current mortgage statement (do they still send you one?). there has to be at least one lender out here with enough sense to be able to refinance a mortgage on a home that you actually own without coming up with that sort of foolishness.

rackon · Joined: 27 Oct 2009 Posts: 2 1.75 Dollars($)

Well, it gets more complicated. We also have a second mortgage, that was reaffirmed and is showing up on our credit report (imagine that) and they are not willing to subordinate for refinancing. I feel like I'm just stuck. I just want my payments for my first mortgage to be reported to the credit bureaus in order to help rebuild my credit. I had no idea that they weren't until recently.

gmakerley · Posted: Tue Oct 27, 2009 9:39 am Post subject:

so you are unable to consider adding the second mortgage in on the refinance plan? are you lacking equity?

it's never too late to keep annoying wells to try to get them to resume reporting your loan account.

Posted: Tue Oct 27, 2009 10:42 am Post subject:

When trying to refinance with Wells Fargo, they won't roll the second loan into the refinance. I don't believe it has anything to do with not having enough equity. I believe we owe about $50,000 on the first loan and $8000 on the second. House is probably valued at atleast $90,000. They're just being difficult.

Honestly, we're afraid to cause too much problem because we're afraid they could demand that we surrender the house since it's not reaffirmed.

My husband thought that he had a seen something somewhere that said that if you continue to make payment on a debt that was not reaffirmed through bankruptcy for a certain period of time, that debt was considered automatically reaffirmed. Have you ever seen anything like that?

Posted: Tue Oct 27, 2009 10:46 am Post subject:

My husband did stop in and talk to another attorney one day. The attorney asked him when the "note" was due. Do you know what me means by that?

Guest

Great topic,

Talk to a Mortgage Professional to find out exactly what your options are. After your Mortgage Loan officer reviews your complete file and determines all your options, he or she will be able to let you know your next step.

Kal Patel
Voyage Home Loans.

gmakerley · Posted: Wed Oct 28, 2009 7:50 am Post subject:

your questions about bankruptcy are best answered by a trustee or a bankruptcy attorney. as for when a note is "due" - the due date of a note is the last month in which a payment would be required. for example, if you borrowed on november 1, 2000 on a 30 year loan, with first payment due december 1, 2000, your final payment due would be on november 1, 2030.

it's truly puzzling why such a conversation could be had concerning "when the note is due" and yet the definition of what the attorney is talking about can't be reached. i can't comprehend why anyone would ask a question, have it not understood and fail to clarify it. or did your husband simply shrug his shoulders and walk out?

kal mentioned discussing your situation with a mortgage professional. i agree - get away from wells and speak to anyone else who has some sense. from your numbers, refinancing both first and second ought to be within the realm of possibility.

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