@Anonymous wrote:
Newbie here.....Been getting alot of useful info reading the forums and I was wondering if anyone can answer this for me.
My husband has a mortgage showing on his credit report that is not ours. It is showing never late and paid in full in a 2 year period for the amount of 216,000$.
I have disputed it several times over last year and it keeps coming back as verified. My question is will this hurt our credit when we go to get a mortgage? I dont mind leaving it there if it is good for the credit but I am concerned they may so ok so how do you manage to pay off that debt in 2 years and deny us a mortgage. Thanks in advance.
Well...I'm sure it is helping his score but you really do need to get rid of it before applying for a mortgage.
I would recommend making sure that he has all the credit cards he wants/needs before removing the mortgage. His score could drop quite a bit once the mortgage is removed.
If the lenders find out about that mortgage sometime during closing on your house, it would throw a major wrench into the process at that time. They would want you to have it removed and your husband re-scored before they could move forward with closing. That would probably take at least a month or two to have removed and re-scored. You might loose your sellers if it takes that long.
You need to pull your husband's credit reports and find out the contact information for the lender of that mortgage. Give them a call and question them. Who knows, maybe his identity was stolen or more likely they reported it wrong. Have them remove it from your husband's reports.
Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
