Ocwen Loan

[Anonymous]

Hello all,

 A little help please just pulled rpt and noticed where a loan that was opened June 2005, and paid off is still reporting 30 day past due. (Zero Balance).... Any suggestions on what I can do to have this updated or removed Go easy Im new to the site.

Thank you in advance...

[GregB]

If you had ANY payment at any time that was 30 days past due, that will stay on your credit report until it drops off due to age. That should happen right around 7 years. If the account was open for awhile after that late payment, it will stay on for 10 years after it was closed.

As the late gets older, it hurts you score less. The good history of the account helps your score until it drops off 10 years after being closed.

So if you have an account that was paid late in 1/2003 and closed 1/2004:

- The late will report until about 1/2010, having less effect as time goes by.

- The account will drop off your report about 1/2014.

[ShanetheMortgageMan]

Are you saying they are putting on your credit report that right now, an amount is still owing and is past due?  If so, I'd call up Ocwen and ask them to write you a letter stating when the mortgage was paid off in full with no remaining balance owed.  Once you have that letter, dispute the information with the credit reporting agencies and provide them that letter as supporting documentation for the dispute.  At least that is what I'd do.