Question about Pay Status

[Anonymous]

I am working on cleaning up my wife's credit file, and she has a mortgage company reporting the following on her TU report -

Date Opened:04/01/2012

Date Updated:04/30/2016

Pay Status:>Account 60 Days Past Due Date<

Last Payment Made:04/14/2016

Credit Karma shows this as -

Currently 60 days past due

 Balance $0

 Last payment Apr 14, 2016

Current Payment Status 60-89 Days

Late Worst Payment Status 90-119 Days Late

My concern with this is that it has a Pay Status of "Account 60 Days Past Due Date" when the account is current at this time, and does not have a $0 balance. Obivously they have not updated this in quite some time either. I am trying to do what I can to get her scores up a bit before we pull the plug and purchase another home. I'm not real sure on how to handle this though? Obviously it can report a $0 balance, and show late history, but it should not have a current status of 60D late. It is reporting simalarly on EQ as well. Just looking for some input on this. Thanks in advance!

[RobertEG]

Payment rating/status is not the same as current status.  It reflects the highest level of delinquency prior to a return to good standing.

An account that is delinquent will have a current status of 30/60/90 etc. late. or charged-off.

If the account is subsequently paid, it no longer has a current delinquency status, and will be updated to paid (if closed) or pays as agreed (if still open).  However, the delinquency status prior to paid/pays as agreed is retained under the Payment Rating code.

It is not improper for an account that is no longer delinquent to show a payment rating of a prior delinquency status.

[Anonymous]

Thanks for the reply. I wasn't sure on this because TU is not reporting a current status, just a pay status, and then seeing this on Credit Karma reporting it as "Currently 60 days past due". I wasn't sure if I should dispute this to get it updated or not (if in fact something was not correct). Sounds like it is reporting accurately, so now on to the next course of action. Thanks again!

[Adkins]

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@Anonymous wrote:

Thanks for the reply. I wasn't sure on this because TU is not reporting a current status, just a pay status, and then seeing this on Credit Karma reporting it as "Currently 60 days past due". I wasn't sure if I should dispute this to get it updated or not (if in fact something was not correct). Sounds like it is reporting accurately, so now on to the next course of action. Thanks again!

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I wouldn't go off CK. Get your official report from freeannualcreditreports or pay $1 for a trial at credit check total, in which you'll get all three FICO scores and current copies of each credit report. Cancel the membership in seven days. 

[Anonymous]

I know that Credit Karma is not the most accurate to go by. I use just use it as one of the many ways to monitor changes to my reports. I just pulled all reports in October from all 3 bureaus. My question originated from the fact that TU was not showing a current balance, and the fact that Credit Karma worded things the way they did that had me unsure on this. Thanks for your reply.

[Adkins]

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@Anonymous wrote:

I know that Credit Karma is not the most accurate to go by. I use just use it as one of the many ways to monitor changes to my reports. I just pulled all reports in October from all 3 bureaus. My question originated from the fact that TU was not showing a current balance, and the fact that Credit Karma worded things the way they did that had me unsure on this. Thanks for your reply.

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I use CK to watch my reports, too. But I always to defer to my genuine credit reports if I have a question about an account. I agree, that's weird how they worded it. They are in the business to make money, so maybe the wording they use is part of that.