Mortage company not reporting to credit bureau

[5150]

Has anyone had this situation. Credit bureau not reporting my mortgage for the last 2+ years. They were kept out of the bankruptcy, and my statements say "for informational purposes only". I've been paying my mortgage on time. If I am on the loan with someone else, does that mean that THEY won't have it show up on their credit report either? They didn't file, just me. Thanks.

[TXskyblue]

1. They were not kept out of the bankruptcy. It is a misconception that one can file bankruptcy on only some of his or her obligations. Everything is included without exception.
2. The statements say "for informational purposes only" because your duty to pay the mortgage was discharged by the court. You do not legally have to pay your mortgage any more. They put that verbiage on your statements so they can continue to send them to you without being sued for attempting to collect on a debt they legally cannot collect on.
3. If your co-signatory did not file bankruptcy, he or she is still responsible for the mortgage. The mortgage can legally report on his or her credit report.
4. Do not confuse "don't have to pay" with "get the house for free." If you want to stay in the house, keep paying your mortgage or they will foreclose. Your original mortgage loan is still in effect. All the BK did was prevent them from being able to sue you or put anything negative on your credit report if you choose not to pay.
5. Some companies continue to report on discharged loans to a discharged person's credit report. This is the case for me. They definitely do not have to report, though. It's a crapshoot.

Hope that helps.

[5150]

So if it is not showing on my report, it may not be showing on theirs either? I have every intention on staying here and getting the mtg in my name. I don't want to walk away. It would be good if the other party doesn't have the mtg show on their credit.




QUOTE=TXskyblue;619321]1. They were not kept out of the bankruptcy. It is a misconception that one can file bankruptcy on only some of his or her obligations. Everything is included without exception.
2. The statements say "for informational purposes only" because your duty to pay the mortgage was discharged by the court. You do not legally have to pay your mortgage any more. They put that verbiage on your statements so they can continue to send them to you without being sued for attempting to collect on a debt they legally cannot collect on.
3. If your co-signatory did not file bankruptcy, he or she is still responsible for the mortgage. The mortgage can legally report on his or her credit report.
4. Do not confuse "don't have to pay" with "get the house for free." If you want to stay in the house, keep paying your mortgage or they will foreclose. Your original mortgage loan is still in effect. All the BK did was prevent them from being able to sue you or put anything negative on your credit report if you choose not to pay.
5. Some companies continue to report on discharged loans to a discharged person's credit report. This is the case for me. They definitely do not have to report, though. It's a crapshoot.

Hope that helps.[/QUOTE]

[TXskyblue]

It's impossible for me to know. Yes, they may just simply not report at all. Or, they may just have removed you from reporting since you are the one whose responsibility was discharged.

The lender is not just going to let the co-signatory off the note because you ask. The only thing you can do to effectuate the situation you want is to refinance the loan in your name only. At that point, the BK discharge will be irrelevant in regards to the mortgage and you would be 100% on-the-hook for the mortgage.

Since it seems it's been at least 2 years since you discharged, you may be able to refinance. I tried to refi my mortgage and everyone told me it had to be 2 years post discharge, period.

[keepmine]

As the cosigner to pull their reports and see what's reporting.