Posts Tagged "mortgage"

The effect of delinquencies when going through a short sale

Dear Experian,

Will it have more of an impact on my credit report if I stop making my mortgage payments and become 90 days or more delinquent during a short sale process? Or will it be the same because the bank will still report it as a settled debt in the end?

– ATM

Financing Major Purchases

Buying a Home – Plan in Advance Buying a home is likely to be the largest purchase you will ever make. It can be complicated and stressful, but with careful planning, buying a home can be a more satisfying process. To help you plan for this major purchase, Experian® has put together a list of […]

Updating report to show home ownership

Dear Experian,

I am the owner of a house with a paid mortgage, which I am renting to family. How will this affect my credit scores, and how can I update my credit report with this information?

– JDB

Credit reports show mortgage loans, but not “homeowner status”

Dear Experian,

I bought a home a few months ago. How do I update my status to homeowner?

– TFW

“Statement of dispute” delaying mortgage refinance

Dear Experian,

We are refinancing our house. There was an account on my husband’s credit report that he had disputed at the time it was reported. It is still showing disputed. The mortgage lender told us they needed a letter from the company stating it is no longer being disputed. We did that. Now they are saying they need the statement of dispute to be removed from the credit report, and they are telling us the credit bureau is going to charge us to do that. I have never heard of the credit bureau requiring payment. Is this correct?

– MMI

Late payments during mortgage modification can be reported

Dear Experian,

I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay my mortgage payments until a determination was made, yet my account shows I was two months late. Why?

– SKV

You might still owe on your mortgage after declaring bankruptcy

Dear Experian,

I want to know if I still owe my mortgage company after filing Chapter 13 bankruptcy. When I filed I was in foreclosure, and they said I owed $72,000. I paid that amount in full. Now the company is saying I owe $59,000 more. Does this sound right? I have my discharge papers from the courts.

– ARB

“Short sales” usually deleted 7 years from the mortgage’s first late payment

Dear Experian,

How long is a short sale on your credit report? We did a short sale in December 2010, and it is still on our credit report.

– SPG

Missing payments will worsen impact of mortgage short sale

Dear Experian,

How will it affect my credit score if I short sell my house without missing any mortgage payments versus missing payments prior to the sale?

– BSB

Mortgage loan not being reported after declaring bankruptcy

Dear Experian,

We filed bankruptcy two years ago and want to either refinance our home or possibly buy a new home. When the bank pulled our credit they said that our existing mortgage is not being reported on Equifax, Experian or Transunion. We have all of our monthly statements from our lender verifying that we have been paying on our house for the past 2 years. How do we show this information to you so you can start reporting all of our mortgage history on our credit report?

– ETL