Anyone else ever have this happen to them? Intereseting circumstance...

[TatorTodd]

Back in 2005 I bought an "investment" home with a...uhh.... "friend" and I was an idiot about all of it.  The loan was in my name due to my good credit, and he was a loan officer, so he just said I could write him a check each month and he would handle the payment.  Well he never made payments(used money for other  debts), and all contact info was to him, so i never knew, until the house went into foreclosure.

fast forward to 2012, I serioiusly didnt look at my credit report in between these times, and didnt have any open credit cards or loans.  Tried to get a home with my wife, and found out my score was low/mid 500's, decided to look at it credit report, and it still showed ONE of the loans was still open, and late.  Wells Fargo had closed/foreclosured one of the loans, but had forgotten to close the other, so for the past 6/7 years, each month it was reporting as late.  crazy huh? when i contacted WF they actually said they had no file information about this due to it being so old.  I reported them to the BBB (after talking to a credit councilor) and they finally reviewed it, and it took about until last July for them to say, "oooppps"

I'm curious if anyone else has ever had something similar happen to them before

[ShanetheMortgageMan]

Hasn't happened to me, but I've definitely heard from people that this has happened to (the 2nd mortgage never reported it was foreclosed on).

So how is it reporting now?  Foreclosure retroactive back to the date of the actual foreclosure... or are the 6/7 years of late payments still on there?

[TatorTodd]

Thanks Shane, good to know it has actually happened to other people.  I wasnt sure if this was an attempt to makes matter worse for me, or not.  It was completely taken off of my credit, so it doesnt show anymore at all.  I asked the same question to anyone I could involved in the situation, and no one could answer it.  It showed for 2 months and then has been completely swiped off the report.

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@ShanetheMortgageMan wrote:

Hasn't happened to me, but I've definitely heard from people that this has happened to (the 2nd mortgage never reported it was foreclosed on).

So how is it reporting now?  Foreclosure retroactive back to the date of the actual foreclosure... or are the 6/7 years of late payments still on there?

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[ShanetheMortgageMan]

Pretty much the best possible outcome, nice going on your efforts.