Legal Question in Credit and Debt Law in California

The question I would ask back is what is accurate? You may not ow them anything now... If you had a second and it was a profit and lost charge off then it is accurate and you won't get it removed. You may not ow anything on the deficiency,... This may sound mean but you can expect to go through a foreclosure and have a second mortgage written off and then not have it on your credit report. You can have inaccuracies in the credit report fixed but if it was accurate there is not much you can do...

Mr. Green is basically correct. Uncollectible is not paid. Failure to pay a debt is failure to pay a debt and is reported as such. Be glad they at least charged it off and are not showing a balance due, which would be even worse for your credit.

Missing from you question is anything to indicate whether or not this was a recourse loan. Second mortgage holders often write off bad debt for tax purposes, but that doesn't mean that you don't owe the money.