Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
Gonzozap

8 Contributions
98 People Helped
When Must a Mortgage Lender Stop Reporting the Mortgage After Default?
We stopped paying our mortgage in January 2010. A foreclosure was attempted but could not be completed because the court didn't think the bank proved they owned the loan. Our "alleged" lender reports lates every month. My report says the account will be removed from our reports in March 2017. Can I believe that? I know credit cards work that way, but didn't realize the same thing applied to mortgages. Does anyone have any concrete information about how/when mortgages fall off the report?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1332 Contributions
207 People Helped

if they are reporting late payment monthly, they still consider the loan active and the drop off date of March 2017 may not be a reality as it goes from the latter of serveral dates, which includes the date they consider the debt uncollectable.   If they are continuing to report it as active and late, this is causing great harm to your credit report. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.