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Posted in Mortgage
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sofscarlo

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why am I still recieving a mortgage balance when I recieved cancellation of debit in 2012
I gave back my house with the in deed of lieu of foreclosure so why is the mortgage still coming up

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Deed in Lieu

I see this often. The bank simply stopped reporting.   Its no longer affecting your credit so you could just keep the HUD1 Settlement Statement from your closing and provide it to creditors as needed.  Or you could contact a credit repair company or attorney if it really bothers you. These services are not as expensive as you may think.  The other option is to contact the credit bureaus and go through their process.  You should do some research on Credit Karma first.  DO NOT FILE A DISPUTE.  IT WILL REACTIVATE THE DEROGATORY ACCOUNT AND BRING YOUR SCORES DOWN UNTIL THE DISPUTE IS RESOLVED.  

Top Contributor
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2 People Helped

Deed in Lieu two

Also, something I want you and other folks to know.  If you are considering purchasing again, you need to be very clear on the date that the deed was transfered back to the bank.  Do not assume the bank has transferred the deed into their name.  This is important because the waiting period to purchase a new home is at least 24months, typically 36months and up to 7 years!  If the bank waits 18 months to transfer the deed into their name, that's when your clock starts!  If you have had a foreclosure or Deed in Lieu in the past year, your waiting period has probably not started.  Google: [your county] + property tax look up and you should be able to look up your address and sales records to see when the bank actually took possesion.  

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