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669Jayson

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Is there anything that I can do about a 2nd Mortgage on a home that was foreclosed?
The home that I owned in 2007 was foreclosed. I received a debt forgiveness on the 1st mortgage but the 2nd mortgage is still showing bad debt on my credit report. Can I do anything to erase this bad debt from my credit report?

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wait it out.

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If the account is showing as a "write-off" or "charge-off" and still has a balance and/or past due amount, then you can try something I heard about to get it to a zero balance, but I can't promise it will work.

Write a letter to the mortgage holder and the bureaus and tell them that since the account has been written off, they are not allowed to claim a balance or past due amount, because the write-off is considered "income" for the bank by the IRS and they are not allowed to collect on something they've already claimed as income.

It won't get the account removed, but it may get a zero balance.  Otherwise, redguy411 is right, you'll have to wait 7 years for it to fall off.  

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