Hi all I want to thank everyone again for all of the great info on this website. I have learned so much here. I had posted our story here last year and gotten a lot of helpful responses. Our story is we decided to "walk away" (for a variety of reasons) from 3 rental properties in Arizona in 2009. All 3 of the properties foreclosed in 2010. My credit has since partially recovered - its in the low to mid 700's now. I recently qualified for a certified pre owned car with the "premium financing." Even the finance department was surprised how good my credit score was with multiple foreclosures. I decided to check my husband's credit and signed him up for the credit monitoring service also. Turns out, Bank of America didnt update some of the loans on his credit - I think. On a couple of the loans, it shows the balance as zero, BUT under "status" it shows the loan"150 days or more past due." These loans foreclosed well over a year ago. The loans are "non recourse" and the bank cannot collect. IF they zero'd out the balance, why does the status reflect it as late?? ALSO, one of the loans still shows a past due balance, even though the property foreclosed well over a year ago. These loans are clearly non-recourse loans. The bank has made no attempt to collect (they cant by law) and even sent us 1099's for our taxes showin the loan closed out. Is this "status" important? The big problem I am having now is that I have been disputing the information, and they wont change it. I have the exact loans on my own credit report (all loans were joint) and they reported everything correctly! Transunion just ignores my repeated disputes and Equifax comes back telling me the information was verified as correct. My husband's credit scores are much lower than mine so Im thinking these are the reasons for that. Any suggestions?? Thank you in advance!
Wow- I'm really surprised that your scores are already back in the mid 700s as well. How bad are your husband's FICO scores? It sounds like these accounts should be marked as closed with 0 balances on your husband's reports, just like they are on yours. I know you haven't had success yet disputing through the CRAs, but have you written directly to the information furnishers too? It's worth a try.
Thanks for the response. I have been doing all of the disputing on line. After reading your post, I printed out the addresses and I will draft letters this weekend. Hopefully doing something in writing will make them do it right. It's so frustrating that the banks get away with this and I feel like there is nothing we can do. Yes, I am very surprised my credit is that good too - shocked! My husbands scores range from 680's to 710. These are actual FICO's but I noticed the scores provided by Identityguard (through Costco) show about the same. I think maybe its because we are older (in our 40's) and have such a long (and good up until 2009) credit history. Guess the bad stuff is a smaller percentage of the history.
