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Acct showing as if Im making payments

Submitted by on Fri, 02/15/2013 - 21:12
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I am in process of purchasing a home. I have completed mortgage app and everything seemed to be going good. However we received a call today stating we did not qualify because of an acct listed on my credit report. The acct listed is a repossession from 2008. The acct states it was Transferred to recovery(Im assuming sold) however it also looks as if we are still making payments. According to agent it looks as if we have made payment arrangments on this acct. This is not correct. We are not making any payments nor have we been in contact with these people. What should I do? this is the only thing stopping me from getting approved for my mortgage loan.


Tranferred to recovery could mean that the companies internal division is handling it OR it was send to collections. Your agent is wrong....payments do not show per se on a collection account.

You need to pay off the repo.


Submitted by SOAPLADY on Fri, 02/15/2013 - 21:26

SOAPLADY

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