So we got good news last week, we had been approved for a permanent loan modification after a six month trial period. But on the same day, they sent us a serious delinquency notice saying we owed around $7,000--the amount that was cut from our mortgage payments during the trial period.
I called and asked if this was anything to worry about, they said no, and then I asked if they were reporting us to a credit agency, and they again said no. The loan modification was in process. The computer was automatically generating the delinquency notices and would stop as soon as we returned our loan modification contract.
Today we got letters in the mail from our credit card company saying we'd been reported to the credit agencies as seriously delinquent on our mortgage and they were reducing our credit limit to $500. We have had perfect credit up until now.
I know when you get a loan mod, that gets reported to the credit agency, but we have been reported as seriously delinquent. Is this supposed to happen? How do we undo this?
Every time I think we've finally made it, they keep pulling me back in.
Thanks for the advice.