Countrywide Home Loans Reporting Issue?

[kar]

Hi everyone! Well it has been a long time since I posted here for me since our Chapter 7 BK was discharged over two years ago. I have a an unusual dilemma. My wife and I included our first mortgage and our home equity loan both with Countrywide (we did not reaffirm) in our filing which both were discharged with the rest of our debts. We have continued to make our payments on the house always on time. Countrywide has never reported on any of our credit reports that both loans were IIB with zero balance. Both loans show all positive payments/never late with current balances. They are fully aware of the bankruptcy as they mentioned it on all of our monthly statements they we are not obligated to pay them as the debt was discharged, they go on by mentioning that if we don't pay they can start foreclosure proceedings. I have called Countrywide a number of months ago and told them they were reporting both loans as nothing ever happen and they should report them as IIB zero balances. They assured me they would correct this. Needless to say they never corrected this. I have no clue how mortgages are weighted as far as effecting our FICO scores goes. My question is, should I still keep after Countrywide to report both of these loans IIB zero balance or just let it ride. I know it seems kind of strange to ask a discharged creditor that is reporting positively to now report it as a negative. The only reason I am asking this, in the event something happens that my wife and I can't keep paying on these mortgages that the status of the debt reports correctly on our credit reports showing that the mortgages were IIB/Never Late. It would seem to me if we stopped paying on them they would start to show late payments on our reports which would be totally false reporting as both loans were discharged in our BK. I would appreciate any thoughts on this. Thanks.

[RedLight]

I was discharged at the beginning of December and mine is just like yours. We have an 80/20 with the 80% being through Countrywide. On my EQ report, they are reporting at IIB Zero balance but on DW's and my other ones they are reporting as usual. Needless to say, our scores are lower on them. I called to find out why it was reporting and they said it should correct itself. We would like it to show IIB as it seems to be keeping our score down...odd I know. Also, we would like it for the same reason as you, we are now a little upside down and even though we have no plans on moving, the peace of mind is worth it. Let us know if you find anything else out.

[kar]

I was discharged at the beginning of December and mine is just like yours. We have an 80/20 with the 80% being through Countrywide. On my EQ report, they are reporting at IIB Zero balance but on DW's and my other ones they are reporting as usual. Needless to say, our scores are lower on them. I called to find out why it was reporting and they said it should correct itself. We would like it to show IIB as it seems to be keeping our score down...odd I know. Also, we would like it for the same reason as you, we are now a little upside down and even though we have no plans on moving, the peace of mind is worth it. Let us know if you find anything else out.

Is there any speciel department at Countrywide that you talked to that handles credit reporting issues? The last time I talked to Countrywide it was through the Bankruptcy deparment and the guy said he would make sure that it got corrected. That was almost six months ago and nothing has changed.

[tazzy20176]

You might want to try disputing it with the credit reporting agency. They'll verify it through Countrywide and update your credit report to reflect IIB.

[krielly]

You might try recontacting the BK Department at Country wide.

I had the same experience with Wells Fargo. They told me they would make the corrections I requested to our credit reporting, but never did. I called back a few months later, and spoke to another rep. I explained that this was my second request. They are now reporting correctly.

Maybe the second time will be a charm. Doesn't hurt to try.

Good luck!
K

[mrbsf]

You might want to try disputing it with the credit reporting agency...

Absolutely...dispute the current status and send a copy of your discharge order to the credit bureaus. This will take care of it.

[Stilltheone]

I have the same issue.

We have a 70/30 loan with Countrywide handling our 30%. We were discharged in July and they still report. We didn't reaffirm.

We were recently late with them, by almost 2 months. I plan on checking our report and if they reported those late payments, I plan on disputing, saying the account was IIB.

Good luck to you!

[BK2008]

If youe current on your payment to CW and are doing a ridethrough, wouldn't it be a GOOD thing for them to keep reporting your monthly payment as current/no lates vs 0IIB???

Seems to me that keeping one more positive tradeline would help..not hurt.

BTW, CW doesn't start reporting 'negative' things until you actually start stiffing them. Until them, as long as they've got the money every month, they're happy campers. IMHE.

[LookingFrwrd]

We are actually going through the dispute process with the CRA's right now for same issue. We were discharged Chapter 7 in June 2008. Did not reaffirm 1st or 2nd with CW and as of last week, they were still showing as active accounts, paying as agreed on all of our credit reports. I wanted to get the status changed to IIB as although we have been making our payments since the discharge, I lost my job in January and we are now not able to do so.

I just received notice that Transunion had completed my dispute and when I checked my report I see that they DELETED both my CW accounts from my credit report. ???? They did not change them to IIB status, they DELETED them as if they never existed.

I am very concerned now as we will be letting the house go into foreclosure and how in the world will that show up on my credit report if there isn't a mortgage loan to connect it to?!??!

I do not yet have dispute resolution from the other CRA's and my husband does not have resolution on any of his. I'll wait to see what Experian and Equifax report but don't they report whatever information they are receiving from the account holder (CW)?

Any advice would be MUCH appreciated.

[kar]

We are actually going through the dispute process with the CRA's right now for same issue. We were discharged Chapter 7 in June 2008. Did not reaffirm 1st or 2nd with CW and as of last week, they were still showing as active accounts, paying as agreed on all of our credit reports. I wanted to get the status changed to IIB as although we have been making our payments since the discharge, I lost my job in January and we are now not able to do so.

I just received notice that Transunion had completed my dispute and when I checked my report I see that they DELETED both my CW accounts from my credit report. ???? They did not change them to IIB status, they DELETED them as if they never existed.

I am very concerned now as we will be letting the house go into foreclosure and how in the world will that show up on my credit report if there isn't a mortgage loan to connect it to?!??!

I do not yet have dispute resolution from the other CRA's and my husband does not have resolution on any of his. I'll wait to see what Experian and Equifax report but don't they report whatever information they are receiving from the account holder (CW)?

Any advice would be MUCH appreciated.

Let us know what the results are when they come back from with Equifax and Experian.

[LookingFrwrd]

Experian and Equifax both corrected both accounts to Included in Bankruptcy/zero balance on both mine and my husband's credit reports as of today.

Transunion left the 1st mortgage account as open/pays as agreed and changed the 2nd mortgage to IIB/Zero on my husband's credit report -- but deleted both accounts on mine.

[kar]

Experian and Equifax both corrected both accounts to Included in Bankruptcy/zero balance on both mine and my husband's credit reports as of today.

Transunion left the 1st mortgage account as open/pays as agreed and changed the 2nd mortgage to IIB/Zero on my husband's credit report -- but deleted both accounts on mine.

Did you disputes these on line or in writing to the credit reporting agencies?

[LookingFrwrd]

I disputed everything online to the agencies. Should I re-dispute to Transunion in writing??

[kar]

I disputed everything online to the agencies. Should I re-dispute to Transunion in writing??

I would dispute in writing with Transunion and do not mentioned in your dispute that you already disputed on line. Send the letter registered mail. If the results comes back with no change, I would then call CW and tell them to report the account correctly.

[LookingFrwrd]

That's what I was thinking I would do.

Thanks.