Written By KNOWICAN– I got a loanĀ modification over 2 years ago from my first (HomeQ) and my second (Ocwen) mortgages. This was before HAMP or even before Obama! So of course it was an in house mod and it went rather smoothly. I really wanted to refinance – I had the credit scores and could afford the house, but my home value was under water (still is only slightly better). So I went the modification route when my first mortgage adjusted.

Enter the problem – about 3 months ago I noticed that my credit report had this little note under only one of my mortgages “paying under a partial or modified payment agreement”. I was mortified! I never agreed to any such note. I have never missed my mortgage payment, EVER. Where did this come from? Why was it only one mortgage and not the other?

So, I called Ocwen and they gave me some lame excuse about some new credit reporting law that went into affect October 2009. 1 1/2 years AFTER I got my modification. I tried with all of my might to get them to agree to remove it, but no luck. I am stuck because this “note” will stay with me unless I refinance and this is dragging my credit WAYYYY DOWN and I think it’s unfair since my re-mod was done a while back.

So I am asking you guys – do I have any recourse? Shouldn’t I be worried about this? Can they retroactively go back and apply a note to my credit report?

Please join the discussion in our forum!

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.