Nicole asked in Business & FinanceCredit · 1 decade ago

What does Bank of America na via Landsafe on a credit report mean?

My dad is bipolar and has bought a house (without telling her first) and my mom is worried that he may have applied jointly using her name without her knowledge. She is also worried that he may have used their existing home that is held jointly in their names as collateral. On his credit report it shows under regular inquiries and inquiry analysis it reads " bank of america na via landsafe". Under permissible purpose it states "credit transaction". The same thing is on her report and she is worried that he has applied for a loan in her name or used their home as collateral.

He is really manic right now and this house is a horrible investment. It literally is falling apart and is uninhabitable.

Any information you can offer would help a lot! Thank you!

Update:

We live in California. You cannot ask him anything because he is a pathological liar. Right now he is refusing to speak to me (again). I am beyond hurt by his behavior towards my mother and I.

Update 2:

Reena and Stephen,

Thank you for your help, it means a lot. I will advise my mother. I really appreciate the great advice. What I shared on here is just the tip of the iceberg, if I told the whole story no one would believe it.

6 Answers

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  • 1 decade ago
    Favorite Answer

    It means that someone applied for a home loan/mortgage using their names. It does not mean that the purchase was actually made; it only means that someone applied. Your mother can call Landsafe toll free at 1-877-LS-CLOSE (572-5673) and ask them.

    Source(s): landsafe.com google
  • Reena
    Lv 7
    1 decade ago

    They say you marry for better or worse..... and in some states this means when one partner signs on the dotted line of a financial obligation... the other one is automatically on the hook too. (but also becomes part owner of the bought asset). Whether or not your parents live in such a state is not known from your question.

    Your mother can do the following:

    a) ask your father whether he forged her name on the mortgage papers

    b) ask your father whether he put up the existing house as collateral

    c) go to Bank of America and demand to know why she has this transaction showing up on her credit report when she did not sign any papers.

    If this was a really bad decision and done while he was in the manic phase of bipolarity.... then it is time to seek the courts help so that the next hyperactive phase does not result in your father going off and buying expensive items or pledging the families' livelihood in a risky business deal.

    Get a lawyer and make sure that your mother applies for Power of Attorney and this way only she can make such deals or is at least able to undo the damage after wards.

  • Sheila
    Lv 4
    4 years ago

    For the best answers, search on this site https://shorturl.im/EfVVI

    He would not be able to purchase a home without your mother signing. It's possible that he filled out an online application and had both of their credit run, but this is not anything to get excited about. Mortgage don't use other property as collateral, so again this is nothing to get excited about. The worst thing that has happened is that their is a mortgage inquiry on her report and that means nothing. Anyone with a decent credit score won't miss the minimal points that are temporarily lost due to an inquiry.

  • Anonymous
    5 years ago

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    RE:

    What does Bank of America na via Landsafe on a credit report mean?

    My dad is bipolar and has bought a house (without telling her first) and my mom is worried that he may have applied jointly using her name without her knowledge. She is also worried that he may have used their existing home that is held jointly in their names as collateral. On his credit report...

    Source(s): bank america na landsafe credit report mean: https://shortly.im/wikNu
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  • Anonymous
    4 years ago

    Maybe yeah

  • Anonymous
    4 years ago

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