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Open - Included in BK

freshstart525
Member

Open - Included in BK

Hi all,

 

We are seven months post discharged and I just noticed something on our credit report.  We had a HELOC on our rental property - it is currently in foreclosure.  The HELOC is reporting as Open IIB.  We claimed bankruptcy because of this rental property as the loan is recourse and we were told that they would come after us for the difference after they forclosed.  I am thinking that the foreclosure process should be completed in the next few months.  I just found this strange as the mortgage reporting on our primary residence shows as closed - we've never missed a payment. 

 

Does this seem accurate or should we dispute?

 

Thank you for your help. 

Message 1 of 3
2 REPLIES 2
gdale6
Moderator

Re: Open - Included in BK


@freshstart525 wrote:

Hi all,

 

We are seven months post discharged and I just noticed something on our credit report.  We had a HELOC on our rental property - it is currently in foreclosure.  The HELOC is reporting as Open IIB.  We claimed bankruptcy because of this rental property as the loan is recourse and we were told that they would come after us for the difference after they forclosed.  I am thinking that the foreclosure process should be completed in the next few months.  I just found this strange as the mortgage reporting on our primary residence shows as closed - we've never missed a payment. 

 

Does this seem accurate or should we dispute?

 

Thank you for your help. 


If the loan was discharged in your BK then it should be a closed IIB, they cannot come after you for it

Message 2 of 3
jmclaughlin1982
Established Member

Re: Open - Included in BK

Definitely dispute. Should be reporting as 0 balance included in bankruptcy and closed. Anything else is affecting your credit and a violation of the permanent injunction.
BK7 filed 3/23/2016 DC 6/20/2016


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