terpsfan
Diamond Poster
Joined: Feb 2007
Posts: 2,059
We have a matured HELOC with a balloon and have attempted to reach out to the borrower for months leading up to the maturity about refinancing or extending and now that it has matured is 30 days past due. Is there any issues with reporting this loan as 30 days past due?
terpsfan
Diamond Poster
Joined: Feb 2007
Posts: 2,059
My thoughts are we are required to report accurately and the delinquency was not caused by us but the customer now that they are finally returning our calls wants us not to report it. Any thoughts or suggestions?