CRA reporting correct on 2nd mortgage
I just had my 341 meeting last week. TX.
Besides 2 cc's, and a voluntary repo on a car, I reaffirmed my other auto. I have a 1st & small 2nd on my home. I am current on everything concerning the home (taxes, HOA, payments, insurance, etc) I have not reaffirmed these mortgages. I understand CW won't do reaffirms, and the 2nd would like me to do one. I am barely at a break even(or slight deficit after commissions if I were to sell it)
Countrywide (1st lien) is still reporting my payments to the 3 agencies as current and satisfactory. No mention of BK.
EMC (2nd lien)looks like it has stopped reporting and the accounts are marked 'derog-included in BK'), although they are more than happy to take my money on a monthly basis.
What is up with that?? Is that correct??
If I don't reaffirm the 2nd, and as long as I am current with the payments, they can't reposses, can they??
And after discharge, don't they need to go back to reporting like they used to??
I'm confused. Please explain.
Besides 2 cc's, and a voluntary repo on a car, I reaffirmed my other auto. I have a 1st & small 2nd on my home. I am current on everything concerning the home (taxes, HOA, payments, insurance, etc) I have not reaffirmed these mortgages. I understand CW won't do reaffirms, and the 2nd would like me to do one. I am barely at a break even(or slight deficit after commissions if I were to sell it)
Countrywide (1st lien) is still reporting my payments to the 3 agencies as current and satisfactory. No mention of BK.
EMC (2nd lien)looks like it has stopped reporting and the accounts are marked 'derog-included in BK'), although they are more than happy to take my money on a monthly basis.
What is up with that?? Is that correct??
If I don't reaffirm the 2nd, and as long as I am current with the payments, they can't reposses, can they??
And after discharge, don't they need to go back to reporting like they used to??
I'm confused. Please explain.