Help me please figure out CAIVRS..

[jimsmith]

I just recently found out I have a "B" CAIVRS report.

Here is my history:

Chapter 7 Discharge Dec 08

Included foreclosure - House sold for 5K more than what was owed in Dec 09

Reasons filed was a failed business (Son and exwife were trying to start right before economy took a dive) and divorce

A part of the failed business was a SBA loan in the amount of $7,000 that I signed as secretary or the corp. I am not listed on any other documentation for this business.

FHA is listed as a claim Single Family

SBA is listed as default

How in the world do I fix this?

[DallasLoanGuy]

http://www.hud.gov/offices/hsg/sfh/sys/caivrs/caivrs.cfm

You can contact HUD directly about your report.

[jimsmith]

Thanks..  I happened to find all this out when I was trying to see if I could get a mortgage.. I was never told by my attorney that taking the actions I did could come later to haunt me like this..

I have both of their numbers and will call them.. What's the difference between a claim and default?

[ShanetheMortgageMan]

I believe a claim comes after a default, a claim pays the defaulted debt. I am completely BS'ing though.

[jimsmith]

Okay.. So I spoke to the FHA and they told me that there is no outstanding debt but that they paid out to the bank in Jan 10 the claim. That it will be 3 years from the time they paid out is when the bad report will fall off of CAIVRS.. Even though they recovered ALL PLUS MORE (owed 142K.. Property sold for 148K). So this throws a wrench in my plans for the next year and a half. Still haven't spoke to the SBA.