Can I remove a duplicate derogratory for the same mortgage loan?

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In 2009, I was in the process of doing a short sale for my home. I had a 1st and 2nd mortgage with Aurora Loan Services. After someone made an offer on my home, Aurora transferred my 2nd Mortgage to BSI Financial. I wasn’t not making payments to the 1st, 2nd, and now BSI. The short sale was approved and all three companies now report on my credit report as “Closed, Loan Settled For Less than Original Amount.” I am not disuputing the negative hits on my credit; however, I now have 3 derogratories instead of 2. In other words, is there anyway to get Aurora to stop the negative reporting on the 2nd mortgage since they transferred the loan. This is causing me to have two negative hits for the same loan. Any ideas how to remove it. I disputed this with the credit bureaus and they responded by saying they verified I did have a 2nd with Aurora and no further explanation. I never spoke to a live person and don’t know if that is possible. Is there any hope in removing one of derogratories for the same loan?

  1. Reply
    Dixie Darlin'
    February 18, 2011 at 11:29 pm

    If Aurora sold the loan to BSI prior to the short sale going through, then the accurate way to report the account is “sold/transferred to another lender”, they should be reporting the debt as a zero balance.

    All of the past due marks would remain, if you were 90 days late, they can report it.

    Open another dispute with the credit bureau as to how the debt is being reported, not the actual account. Tell them the loan was sold/transferred on X date.

  2. Reply
    David S
    February 19, 2011 at 12:07 am

    i would send the documentation from the company it was transfered to and right out a letter to them again.also look up the fair credit reporting act under the us. bill of has information on how to resolve a problem like this.hope this helps.

  3. Reply
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    February 19, 2011 at 1:03 am

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