We foreclosed on a home in CA in 2008. We paid taxes and mortgage payments while offering deed in lieu and a short sale offer (moving due to job needs). After the bank refused all, we stopped paying for three months and mailed the key and left the house in good repair, with taxes current until auctioning. We are in a non recourse state, there was no refi on the home. The house was successfully auctioned off and we thought that other than our steep financial loss and angst over the first time of not paying a bill in our lives – we were done. We understood at the time that the first and second deal with each other and once the home is auctioned both have no recourse.
Somewhere in that time (after we defaulted and the house was auctioned) EMC was bought by J.P. Morgan Chase. We now see on our credit report that Chase has us with an open debt for a mortgage of $158,000 and shows us as $65,000 past due. Our credit is otherwise good in that we have always paid all our bills on time, we have only one credit card, no car payments and pay rent on time every month now for five years.
How do we get Chase to remove the illegal mark on our credit report without putting ourselves in the path of their random, terrifying choices to do whatever they want to a consumer?
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