I lost my job and we had to file bankruptcy in 2011. As of August we were discharged form everything including 1st and 2nd mortgage. Our 1st is 242000.00, 2nd is 43000.00. Our home value is below 200000.00. During the bankruptcy BOA transfered our loans to new lenders, the second went to greentree and is reporting correctly on our credit report as discharged in bankruptcy $0 balance. The first however with M & T mortgage is listed just like a new mortgage and shows late and BOA is reporting transferred loan and also discharged in bankruptcy. We have stopped paying the second as we know they don’t want to lose money but are paying on the first.
I want to know if the 1st mortgage can legally be reporting the way they are and what needs to be done to correct it, I have disputed with the credit bureaus and threatened the lender and they respond that the loan was transferred just after the discharge so they are not bound by the bankruptcy of BOA. Is this true? What do I do? Thanks
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.My Mortgage Was Discharged in Bankruptcy But I'm Still Paying It. - Cliff by Steve Rhode