Mortgage Reporting

[mylife]

Good morning,

Our mortgage is currently reporting on our credit report that no payments is due and the balance is zero. Does this change after discharge or will it always appear this way? It seems as if it has no affect on the credit.

Thank you

[LadyInTheRed]

Are you keeping the home, or will the mortgage be discharged?

[mylife]

I will assume discharge as we plan to do a short sale after discharge. We just need to be rid of it, don't want to keep it.

[ABC]

Creditors that are in the plan don't report while in BK.

[spidge]

If they were to keep the home would the mortgage begin reporting and from what date?

[ABC]

If they were to keep the home would the mortgage begin reporting and from what date?

It would start once it's after the BK done but it would need to be reaffirmed also. If it's not reaffirmed it usually won't report.

[mylife]

Thanks for the information!

[spidge]

It would start once it's after the BK done but it would need to be reaffirmed also. If it's not reaffirmed it usually won't report.

Would the reporting predate the discharge? So would the payment history start from the time the loan is re-affirmed and not include any history prior to that date?

[mylife]

If not reaffirming then nothing is reported at all?

[LadyInTheRed]

If not reaffirming then nothing is reported at all?

That seems to be the norm.