Changing mortage from IIB to PIF on CR's?

Anonymous · ‎08-23-2007

My mortgage was discharged in my BK7. I requested reaffirmation, but they never replied to my request, so the account was discharged. Even though I kept living in the house and paying the mortgage (live in Florida and they don't take your home), they continued to report it as 0 balance and IIB.

I asked Chase during that two years if they would change that to "pays as agreed" but they said once it's discharged, they don't report at all regardless of subsequent payments. I sold the house about two years after filing, and the mortgage was PIF. Is there a letter or something I can send to either the morgage company or the CRA's to either get this changed to correctly reporting PIF, and moved from the BK section of my CR? Is there any point in just disputing it?

I realize the BK itself will remain, but showing $82K as paid in full has got to be better than it showing as IIB... Thanks for any guidance.

Anonymous · ‎08-23-2007

baileyboy wrote:

My mortgage was discharged in my BK7. I requested reaffirmation, but they never replied to my request, so the account was discharged. Even though I kept living in the house and paying the mortgage (live in Florida and they don't take your home), they continued to report it as 0 balance and IIB.

I asked Chase during that two years if they would change that to "pays as agreed" but they said once it's discharged, they don't report at all regardless of subsequent payments. I sold the house about two years after filing, and the mortgage was PIF. Is there a letter or something I can send to either the morgage company or the CRA's to either get this changed to correctly reporting PIF, and moved from the BK section of my CR? Is there any point in just disputing it?

I realize the BK itself will remain, but showing $82K as paid in full has got to be better than it showing as IIB... Thanks for any guidance.

Since the debt was never officially reaffirmed and was included ithe BK, unfortunately lenders are hesitant to change the status because by law once icluded in BK, they can never report it again it should have been automatically updated to 0 balance due at that time. You are right, 82K PIF would be much better especially since you will lose that mortgage tradeline once the 7 years from filin date has passed.

Sorry, wish the news was better. You may try to send a copy of the reaffirmation paperwork to the CBs to se if that helps.

Anonymous · ‎08-23-2007

Brammy wrote:

baileyboy wrote:
My mortgage was discharged in my BK7. I requested reaffirmation, but they never replied to my request, so the account was discharged. Even though I kept living in the house and paying the mortgage (live in Florida and they don't take your home), they continued to report it as 0 balance and IIB.

I asked Chase during that two years if they would change that to "pays as agreed" but they said once it's discharged, they don't report at all regardless of subsequent payments. I sold the house about two years after filing, and the mortgage was PIF. Is there a letter or something I can send to either the morgage company or the CRA's to either get this changed to correctly reporting PIF, and moved from the BK section of my CR? Is there any point in just disputing it?

I realize the BK itself will remain, but showing $82K as paid in full has got to be better than it showing as IIB... Thanks for any guidance.

Since the debt was never officially reaffirmed and was included ithe BK, unfortunately lenders are hesitant to change the status because by law once icluded in BK, they can never report it again it should have been automatically updated to 0 balance due at that time. You are right, 82K PIF would be much better especially since you will lose that mortgage tradeline once the 7 years from filin date has passed.

Sorry, wish the news was better. You may try to send a copy of the reaffirmation paperwork to the CBs to se if that helps.

Thanks Brammy. Unfortunately, I have only my attorney's word about the paperwork - I could check with him on that point tho'. It is showing as 0 due, but again, also IIB. You're right, not good news, but it's worth pursuing so at least I'll know I've done everything I can. Just wanted to see if someone already had a good letter drafted for the same or a similar situation.

I'll keep you posted, as I'm sure I'm not the only one who has experienced this. If anyone else has another idea, please post. Thanks again.