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Credit report wrong

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ldohve
Valued Member

Credit report wrong

I am hoping someone can point me in the right direction. We have worked very hard to pay off our collectons and got our debt ratio down. We were preapproved for a home loan and put in an offer and it was accepted. Well, now the loan is in underwriting and the underwriter found a mistake on our credit report that might put a hault to our loan. In 2007 we had to move to a different city due to a family illness. We ended up renting while trying to sell our previous home. Well, we could not keep up with mortgage and rent. Finally we sold the house and a week later we received a foreclosure notice from the court. We proved that we sold the house and it was dropped. So, the under writed found on our credit report that in 2010 the mortgage company reported again that the house was in foreclosure. It shows on the report that the account is paid. Then it says that the mortgage cmpany took back the house to cover the loan. Which is not true we sold it. The loan officer sent in the HUD statement and the court papers to the underwriter, but they want the Mortgage company to fix it and report it right. So, we tried calling Home Loan Servicing, where our loan was, and they are no longer in business. Bank of America took over their loans. They have no record of us what so ever. I suppose since the account was paid it was not transfered.

 

Any suggestions on what to do? We are suppose to close on the 16th. If we send the info to the Credit Bearues will they update it? How long does that take?

 

Please help!!!

 

Thanks!

Message 1 of 6
5 REPLIES 5
ldohve
Valued Member

Re: Credit report wrong

Please if anybody has any ideas, please let me know. Bank of America told us to fax everything we have and we have done that. But, everytime we call them, they transfer us to somebody else. They are saying since they have no record of it they can not help us. We sent in a dispute to all 3 Credit Bureaus. But, was told it could take up to 60 days. Even when they contact Bank of America, they are not going to have any record of us. We have extended our closing date to the end of the month. So afraid we are going to loose out on our new home.

 

Any advice? Please....

Message 2 of 6
guiness56
Epic Contributor

Re: Credit report wrong

A dispute only takes 30 days.

 

Do you have documentation?  If so did you send that to the CRAs?

 

A foreclosure is a public record and I am not sure if they all need to go through the courts.  But I would do a search in the county it supposedly happened and see what comes up.  Also contact the county clerk and see if they have something on file.

Message 3 of 6
ldohve
Valued Member

Re: Credit report wrong

Yes, we sent them all documentation to prove it is false. Is there a way to get it sped up? Also, what happens when the credit bureaus contact Bank Of America and they have no record of us?

Message 4 of 6
ldohve
Valued Member

Re: Credit report wrong

We did get a copy from the courts showing it was paid off in 2007. it also shows when the foreclosure was started and when it was dismissed due to payment.

Message 5 of 6
guiness56
Epic Contributor

Re: Credit report wrong

That is going to be hit and miss.  Most disputes are done electronically through a system called eOscar.  It reduces the dispute to a two letter code and documents are not sent.  I would say it would depend on the person on BoA end,

 

If you get no resolution I would file a complaint with the CFPB.   http://www.consumerfinance.gov/complaint/

Message 6 of 6
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