Foreclosure started on mortgage that was included in chapter 7 bankruptcy

V

Val T

Guest
Hello, I had a home equity loan with BofA that had several late payments on it prior to it being included in my bankruptcy. Foreclosure proceedings were started by BofA, but never completed because of the bankruptcy, and I still own and live in the home. I am trying to refinance my current mortgage on my home, but when my credit is pulled, Experian is reporting the foreclosure along with the bankruptcy. Equifax and TransUnion are only reporting the bankruptcy. Birchwood, who provided me with my credit report, told me that Experian won't remove this, I have to contact BofA. I contacted BofA, who told me they will not remove the late payment reporting if it's accurate, and that I should contact Experian to dispute the reporting of the foreclosure. Is there any way to have Experian not report the foreclosure if the other 2 bureaus aren't reporting it?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
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Hello,

I'm sorry, no there is not and if there was, they would find out you were late anyway when they get a reporting of your payments made during the time. So, during a refinance, they have multiple methods to verify your credit profile and payment history other than just the credit reporting agencies.
 

Jzone

LoanSafe Member
Jun 20, 2017
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When did you file bankruptcy? Chapter 7 will appear on your credit report for 10 years. I doubt if a foreclosure and bankruptcy reported together will have a bigger impact on your credit report compared to just the bankruptcy.

And isnt there still a lien on your home from the home equity loan that was included in bankruptcy? Is your bank doing a refinance without getting that old lien released?