HI, and thanks in advance for any opinions or help.
Filed Bk 7 in Feb.. 2012, and discharged June 2012.
The 1st and 2nd (HELOC) Mortgages are held by the same bank.
We did not reaffirm our mortgage and decided to "ride it through" and continue to live in and pay for the house. Our attorney insisted that we not reaffirm as we have a second mortgage on the home as well and it is underwater.
During the process of BK 7 we never heard one word from the bank. We have never missed a payment or even been late on the 1st or 2nd mortgages.
Now to the situation at hand. We are looking to refinance after BK and wanted to wait a few months until we reestablished some credit. Done. I found that we may qualify for one of the government refi options since we have a Fannie Mae loan. So, after giving the Sr. Loan officer from the bank who currently hold our mortgages some info, he says that since we have never missed a payment in the seven years we have had the loans, that the BK will have way less weight since we would be refinancing with them. He says everything looks good and needs to get the ok from Fannie Mae to refi and reduce the interest rate. After entering out info to the computer, uh oh, we have a problem. Fannie Mae says we don't have a loan? It does not show up on our credit reports? Then he says there is a note on the mortgage note that says: Deed In Lieu/Foreclosure?
We/our Attorney did not receive any info on this. When I go to the banks website, it continues to show the payments we are making and the declining balance on the notes. The Sr. Loan officer was baffled. He did not have a clue why the loan was showing Deed in Lieu/Foreclosure as he could clearly see that we had a loan that was up to date and never late. However, he said he could not do anything unless the company changed the status.
Help? Has anyone ever seen this before? First hand experience? What do I do now?