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Posted in Mortgage
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chimera79

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Delinquent mortgage from foreclosure still reporting?
So three+ years ago I had to let a property go into foreclosure (upside-down, terrible association, no value, etc.) There was a first and second mortgage on the property, and the second mortgage continues to report that I am delinquent each month. Is there nothing I can do about that? I get that the delinquency is going to stay on the report for 7 years, but reporting it each month as a new delinquency? That doesn't seem right.

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Top Contributor
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If the property didn't sell after the foreclosure, then the lender(s) will continue to pursue you, and report on your credit. If the property sold, but the sale didn't cover the second mortgage; that lender will continue to report the delinquency. 

What's not right? It isn't the fault of the mortgage company you defaulted on the loan(s) for whatever reason. I was in the same scenario for 7 years and my score plummeted to 458. It's been a long haul, but my score is now almost at 800.

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