Q: Selene mortgage put "foreclosure initiated" on credit report 2 + yrs ago yet failed to file due to SOL. Is that legal?
Within two years of foreclosure due to cardiac surgery but got behind on payments yet again due to subsequent heart surgery. Was approved for Mod but 3 days later Suntrust sold mortgage to Carrington who tried to reopen original foreclosure case but stopped by order of judge. They in turn sold it to Selene upon which they reported "foreclosure initiated" on all CRs yet have done nothing in courts for over 2 yrs. Is that not against the law to threaten court action on credit reports yet do nothing within that time? Believe this was done to intentionally stop any possible refinance at other banks in order to wait out pending florida supreme court decision on SOL.
A: Missed payments will be on your credit, regardless of a court case. A credit card company doesn't have to wait to sue you to report a missed payment on your credit. And they are not beyond the SOL; foreclosure SOL is 5 years in Florida and about to be longer once the FL Supreme Court rules on the Bartram case any day now, which will hold every new missed payment is a new default the bank can sue for foreclosure on.
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