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Question on how HELOC is reported

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kme45
New Visitor

Question on how HELOC is reported

Hi, recently got a HELOC through our credit union. It shows up on TU as a mortgage but on the other two reports for EX and EQ, it shows as a revolving account.

Why would it show up differently and is there any way I can change it with EX and EQ to a mortgage account? 

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DaveInAZ
Senior Contributor

Re: Question on how HELOC is reported


@kme45 wrote:

Hi, recently got a HELOC through our credit union. It shows up on TU as a mortgage but on the other two reports for EX and EQ, it shows as a revolving account.

Why would it show up differently and is there any way I can change it with EX and EQ to a mortgage account? 


Bump!

 

I'm curious about this as well. I'm closing in on a $25k Home Equity Line of Credit with Penfed, loan pre-approved, had the appraisal yesterday. I'm thinking that as a LOC it will report as a revolving account, the CL added to my CCs total available credit, but maybe with the designator as "real estate"? If TU reports it as a mortgage I wont't complain.

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