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ReboundQueen

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Foreclosure still active
Had a 1st & 2nd to purchase a home in 2006 it was foreclosed in 2009 and sold @ auction. Since I live in Ca and the loan was ONLY to purchase the home no one can collect on the 2nd (someone tried and failed) Yet the 2nd is still in "charge off-collection" status on one report. It was last reported in 2013 however so I'm concerned it'll stay on there until 2020. This is ridiculous. Last payment was 12/2009

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But, it is part of your credit history and will show on your credit report for at least 7 years because that it the time frame usually searched when granting credit.

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the time clock for removal of charge off accounts starts when the first deliquency happened, not their "last report date". 

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was the second lien satisfied at closing? if not, then you have what's called a definicency balance. this is an amount not paid by the sale that you still owe to the lender. depending on how the foreclosure went down, the statue of limitations in CA is 7 years. however, if they file a judgement, it's possible for the debt to follow you forever. also the SOL is pushed out to 10 years if it's considered a judicial foreclosure (judgement ordered at closing). 

you're coming up on seven years, so you can dispute the item at that point, but that doesn't necessarily mean the debt goes away! (i'm assuming there is one, however it's entirely possible they were paid in full at closing. i have no idea of your circumstance since it was not stated). 

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Not sure but...

I believe the foreclosure is an action taken by your bank as a provision in the mortgage/deed of trust/contract.  You had 2 deeds of trusts (1st & 2nd).  I believe most banks just act upon one contract with the foreclosure process.  Often if you owe the same doctor 2 bills, they might sue you for the debt but they often will sue you separately for each bill (let's just say).  While there are 2 contracts, the mortage company only has to foreclose on one contract and that's enough.  Therefore they didn't take any action against the 2nd mortage and it's just in a charge-off status.  I've never experienced it personally and I'm somewhat familiar with foreclosures but not this situation specifically.  Maybe it's an angle you can ask around about though.

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