How is a SS reported to the 3 bureaus

Hello:

I completed a SS on a rental property I had with chase a few months ago. They are finishing up the necessary stuff on their end and I am not responsible for the deficiency amount. I am also in the process of shorting my primary residence.

My questions are, do the banks determine the language to the 3 bureaus? and do the 3 credit bureaus follow it? or do they create their own language? and can I dispute the language that is reported.?

 

Any help is appreciated.

 

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Permalink Reply by Kevin - Greenville, SC on February 9, 2013 at 9:59am
Permalink Reply by Kevin - Greenville, SC on February 9, 2013 at 10:00am

Credit reporting for HAFA short sales must be either 13 “paid or closed/zero balance” or 65 “account paid in full/a foreclosure was started” as applicable. A homeowner is strongly encouraged to seek the advice of a qualified professional regarding these consequences.

http://www.car.org/legal/foreclosure-short-sale-folder/hafa-short-s...

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