mortgage correct on credit report

[dmudduck442]

We filed bk on 4/19/07, discharged on 7/24/07, I am cleaning up our credit report and I have a question in regards to the mortgage company. It shows as IIB with the balance we had on 4/07. Is that ok or should it show 0 balance? Thanks

[Boscoe]

Did you keep the home in the bk? If so, did you reaffirm?

[dmudduck442]

The home was listed in the bk, we are still living in it but we didn't reaffirm. Our payments to the mortgage are current.

[Boscoe]

hmmm..this is a good question. The balance is correct, since you did not surrender the house - you still owe on it. It is probably saying IIB for the same reason.

You should dispute the IIB, as the debt was NOT included in bk. But, they may push you to reaffirm. Ask your attorney if you should. They are not likely to report any payments to the credit agencies, though.

[lrprn]

The home was listed in the bk, we are still living in it but we didn't reaffirm. Our payments to the mortgage are current.

Even though you may be making the payments yourself and are still living in the house, the mortgage was listed as a creditor in your bankruptcy. Therefore your mortgage lender can state 'included in bk' or IIB because it's true.

[Boscoe]

If a creditor started foreclosure proceedings prior to the bk, but you included the property in the bk, they need to report it as "IIB", right? What are the chances of getting either the 'foreclosure' comment or the past dues removed from the credit report?

[slg1234]

What if you did reaffirm your mortgage..My reaffirmation has already been signed and filed and mine says the exact same thing.