09-07-2011 12:06 PM - edited 09-07-2011 12:06 PM
When my DW and I filed for our Ch 13 in 2004 for medical bills mostly (did include cc debt as well), our mortgage was marked IIB. We sold the home in 2005. She fought and fought with US bank to update the status as paid in full or paying as agreed as our mortgage was not included in the BK (we did not reaffirm or anything, just kept making our payments). That account reported as IIB/payment after wage earner plan until this past summer when it "fell off", presumably because of the 7 year mark. There were no late payments or arrears or anything. On time payments, just the IIB remark.
09-07-2011 03:36 PM
all account has to be included in bk you can not pick and choose, incl. mortgage, like i said before mortgage will not be updated if you reaffirm or not. linkage betweem you and the bank is broken and, linkage only remain on the property. you can walk away from the property anytime you want without any problems.
09-07-2011 03:55 PM
I would like to note again that all 3 credit bureaus are duly noting all my payments on my mortgage. I filed in in Feb and my mortgage payments have been updated each month since by the CBs. TU and EQ show the accounts as derog but the continuously updated history shows no lates. Experian has my main mortgage listed an account in good standing. I did not reaffirm.
It does sound like if I sold the house and paid it off that it might show as IIB/Paid.
I've read if you pay an IIB account off it has to show as paid on the CR to reflect accuracy, even though it may still be listed under degrog accounts. That probably doesn't help any.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.