Help Needed

[Anonymous]

With the downfall of housing market my credit took a beatins as my investments went into foreclosure. I have couple of questions. First Wells Fargo has not foreclosed on one of my properties eventhough I have not made any payments since Nov 07. They are still reporting to credit reporting agencies as I am late ( which I think is affecting my score ). The second question is some of my second  mortgage loans are sold to some companies and they are reporting to credit reporting agencies as I am late . I want to know how to resolve these issues. Thanks for any advice.

[Jazzzy]

Hi Sam,

The best way to go about this would be to post how these accounts are reporting. Are they charged off? Are they in collection? Are they still with the original creditor?

Also, the "Rebuilding Your Credit" forum often deals with past due issues. You may want to post more specific information/questions in that forum.

The fact that you are being reported as late by Wells Fargo is indeed affecting your FICO scores. No one can really tell you how to resolve these without more information.

Have you pulled your credit reports yet? That would be your first step. Knowing how these accounts are reporting is important. Then folks here can help you.

[Anonymous]

They are reporting correct. When they go to court & foreclose then it will appear under public records as a foreclosure.

They can sell to other mortgage companies and the new companies can report late pays.