Legal Question in Credit and Debt Law in Florida
I had a second mortgage and was trying to get rid of some debt so we asked them if they would give us a settlement payment they said ok we paid what they asked for and with-in a month and a half I got paper work in the mail that said satisfaction of mortgage and gave all the papers back that I signed we I got the loan. I went to get preapproved for a loan to buy a house and it showed up on my credit report that the second mortgage still had a balance and it was 90 days behind what can we do to fix this problem
1 Answer from Attorneys
The satisfaction of the mortgage needs to be recorded the same way a deed does. Have you tried contacting the mortgage company to see if that is a mistake? You can also dispute the amount with the credit reporting agencies since you have documentation that the debt has been satisfied. If the information remains, try contacting a lawyer who practices consumer protection law. There are laws related to credit reporting that prevent companies from reporting inaccurate information.