InnoVest's Foreclosure Forum
Ward takes the stairs.

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Annual Reunion

Speaking Schedule

Store

Foreclosure Fundamentals

Code References

Recent Legislation

50 State Foreclosure Basics

Foreclosure Glossary

Foreclosure Statistics

75+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Booklist

Contact / Map | Priceline Tips

About Us

Home

 

Innovest Resource Management BBB Business Review

Re: Debt missing from credit report?

May 20, 2018 06:50AM
There are three major credit reporting agencies. Which one did you use?

I use Experian. They will show the original amount of the debt and the current amount as of the date the debtor reported it. Their major status indicators are OPEN, CLOSED AT CREDIT GRANTOR'S REQUEST, CLOSED AT DEBTOR'S REQUEST. There is no status called DROPPED.

Assuming the status for your loan is CLOSED AT CREDIT GRANTOR'S REQUEST, that means that the loan is a dead issue as far as the lender is concerned. They don't expect to ever collect on it. It does not mean the debt is forgiven. Very bad news for a prospective new lender is concerned.

There is nothing in the Experian credit report to the effect that the house was foreclosed at a particular price. Just the original amount of the loan and the current amount as of the reporting date.

You can get a free credit report from each of the three agencies by going to AnnualCreditReport.com.

Dond
Subject Author Views Posted

Debt missing from credit report?

ADWilliams 81 May 18, 2018 03:29PM

Re: Debt missing from credit report?

Dond 66 May 20, 2018 06:50AM



Sorry, only registered users may post in this forum.

Click here to login

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2018, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455