Pulled EXP today. Bank of America, status: Creditor received deed. $x,xxx past due as of 6-2003. Recent Balance: $0 as of 06/2003. I have never seen "Creditor received deed" before. This is after the dispute this month. This may be a dumb question to some but, what does this mean?
Re: EXP: creditor received deed? Wh this would be where a borrower in serious default on a mortgage gives the real estate to the lender rather than go through a foreclosure proceeding; in states with anti-deficiency statutes the lender must adjust the balance to 0. whether or not this applies to the tradeline in question, that is what the expression means.
Re: EXP: creditor received deed? Wh This is on a credit card, also on Account History: Creditor received deed as of 6-2003.
Re: EXP: creditor received deed? Wh this would be where a borrower in serious default on a mortgage gives the real estate to the lender rather than go through a foreclosure proceeding; in states with anti-deficiency statutes the lender must adjust the balance to 0. whether or not this applies to the tradeline in question, that is what the expression means.
Re: EXP: creditor received deed? Wh sorry for double post; the notation is obviously wrong .. perhaps write in dispute this is not real estate loan and cannot be correct...
Re: EXP: creditor received deed? Wh Is the balance really -0-? You could always nutcase B of A and ask them what deed they are reporting as received for a credit card. Or you might try a procedural request. Or what does anyone think about Dixie's CYA letter here? Could it be one of those $7 hr CSR plugged in the wrong two digit code ~~ Lots of options...
Re: EXP: creditor received deed? Wh It says Balance $0, past due $x,xxx. creditor received deed as of 06-03. In reality this account was BK(7) in 2001. "creditor received deed" on a credit card is something I have not seen before but it drains your score even though the balance is Zero. This is the result after a dispute this month. On a FICO simulator it is past due and the balance is late. $7 an hour wrong code was my first guess also or is this new?
