My question involves a mortgage in the state of: charge-off (?)

Back in Feb 2010, my husband and I lost our jobs: We tried working with Fremont Bank, but they would not proceed with negotiations until we signed an agreement that "unsecured" our loan. Of course, we did not do that, and had to walk away, as we were unable to make the payments.

The house sold in May of 2011, but we never received any information or notifications regarding the status of the home.

I was just looking at our credit report, and it shows that Fremont bank has us as "charge-off" for our loan, every month since Feb 2011, through current.

We live in California, and the loan was a 1st Mortgage.

Does anyone know what this means?

Thanks!