Anyone experienced w/ Stripped 2nd Mortgage Lien in Chapter 13, how reported on Credit Report?
What a long 5 years it has been!!! Geesh! Our FACO Scores are hovering between 660-680. We've been chomping at the bit, hoping to Refi ASAP.
How is a stripped 2nd mortgage lien treated on a credit report? Or how "should" they be reported? I want to FHA-Refi immediatley, but have concerns whether it will be reported correctly, i.e., "paid as agreed", "included in BK" or "discharged in BK", etc. and with a zero balance. What I don't want to see is something totally inaccurate like "charge-off" or god help me, "short-sale" or "foreclosure". And secondlly, how long should it take for my mortgage company to audit, reconcile my account and correspond with me in writing? Does anyone have 1st hand experience with this as part of your Chapter 13 BK?