11-11-2011 04:04 AM
I'm a newbie here. Thanks in advance for any advice, and sorry for the long post but it is kind of complicated...
In 2008 I had a mortgage with Flagstar Bank. I sold the home and closed the mortgage, but it was a short sale. Flagstar agreed to the sale and that they would consider the mortgage paid, however they required me to sign a new unsecured agreement to pay them $24,000 interest fee over 10 years. This was an unsecured agreement and their way of trying to recoup some of their loss.
In 2010 I filed for BK and this loan was discharged as part of that BK, however in checking my credit report recently I noticed that this account was still showing a large balance. I disputed that balance, and Flagstar did change it to reflect $0 however they are now showing that the entire mortgage was discharged through bankruptcy. This is not correct and I'm concerned that it will reflect poorly as I try to rebuild my credit and ultimately obtain a new mortgage.
Can anyone give me some guidance on how to handle this?