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Santander and Citimortgage - Advice?

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daihashi
Valued Member

Santander and Citimortgage - Advice?

It's been a while since I've visited this forum; but I am doing fairly well and on my way to "decent" credit. Before my app spree yesterday, I sat at EQ 678/TU 665/EX 664... and today I sit at 665/658/660 respectively, but with plenty of new accounts with decent credit lines to help allow my goodies to significantly outnumber the baddies.

 

With that said, I still have a couple of problem childs on my reports that I'd like to get taken care of:

  • Santander (will be reported until 08/2020):
    • The loan was completely paid off on 07/2013, and account closed as "paid as agreed".
    • The following lates are being reported:
      • EX = ~ 15 lates (most recent reported 05/2014); most of these being 30days, and 3 of them are 60 days
      • TU = 7 lates (most recent reported 10/2011); most being 30 days, and 1 of them is a 60 day
      • EQ = 7 lates (most recent reported 10/2011); most being 30 days, and 1 of them is a 60 day
    • I'll be honest here, I didn't ever try a GW letter with them because they are a notoriously bad and unforgiving lender.
    • I did try to dispute the lates on 01/2014 with Experian (but not TU or EQ), but did not have any success.
  • Citimortgage (will be reported until 09/2018??):
    • I obtained this mortgage in 2008, and shortly there after lost my job (like many other Americans during this time frame).
    • I continued to make payments, but starting in September of 2009 I started hitting 30 day lates.
      • Payments were being made, but I started to consistently be about 1 month behind.
    • I found employment on 10/2010, but at this point I had begun to hit the 60 day lates.
    • I continued to stumble on all my financial responsibilities, due to recovering from unemployment, and in December of 2011 Citi had transfered my mortgage to Midland Mortgage. 
    • During this time frame there are a total of 18x 30 and 60 day lates combined.
  • Midland Mortgage (will not report positive until 05/2021):
    • The stumbling continued; however I talked the new mortgage company to try to get on one of the government approved hardship programs. This would have allowed me to append all the late payments due to the end of my mortgage; with the option to pay them off early if I was able.
    • Midland refused this; and I'm pretty sure I could've sought legal action, but hindsight is 20/20.
    • Instead they offered me a "repayment plan"; which in reality was simply a promise that the wouldn't forclose on my property in exchange for paying my regular payment + $600 each month until all the late payments were caught up.
    • I did this, and am not current, but the entire duration of that "repayment plan" are marked as lates (13 in total); anywhere between 60 days to 180 days (crazy!!!)
    • I disputed this with the CRA's, stating that this was supposed to be a "repayment plan" that was agreed upon with the lender, and therefore it should not be marked as late, but the lates were not removed.

That is the history of my 3 problem accounts; I have 2 other accounts... but they have 1 late each, and I believe I can get those removed with a GW letter. However the 3 accounts I mentioned above are fairly severe, and I really don't know how to begin with them.

 

With Santander, they are just notoriously unforgiving and I've only read about 2 instances where lates were removed. Given how many lates are on that account, I'm not sure if I should bother with GW letters... or if I should just continue to periodically dispute in the hopes that the lates get removed.

 

With Citimortgage, they transferred the account and they have no real vested interest to remove the lates. I could try GW letters, but not sure if there is a better approach in this situation; such as periodically disputing and just hoping I get lucky.

 

With Midland mortgage; their "repayment plan" has really left a bad taste in my mouth. This one has the best change of having a GW letter working, but based on how they handled my situation I am suspect that they will just give me the typical canned response of "we are legally obligated to report all accounts with 100% accuracy"., blah blah blah.

 

For those of you with Santander and Citimortgage, how would you try to handle getting the lates removed?

In the garden since: 11/12/2015
Starting Scores (11/13/2015): EQ 665 | TU 671 | EX 663
Current Scores (06/25/2016): EQ 690 | TU 711 | EX 700
Goal Score:
720 across all 3 by 07/2016

>

Message 1 of 4
3 REPLIES 3
daihashi
Valued Member

Re: Santander and Citimortgage - Advice?

I went ahead and wrote a goodwill letter for all 3 baddies and mailed them off, but I would still like to get input on how others here would handle it assuming that GW letters do not work.

In the garden since: 11/12/2015
Starting Scores (11/13/2015): EQ 665 | TU 671 | EX 663
Current Scores (06/25/2016): EQ 690 | TU 711 | EX 700
Goal Score:
720 across all 3 by 07/2016

>

Message 2 of 4
Anonymous
Not applicable

Re: Santander and Citimortgage - Advice?

I feel your pain.  I have Santander and sent them goodwill letters about two weeks ago.  I got no response so I called on Wednesday.  I spoke with the general customer service rep who couldn't help so she transferred me to the credit resolution team.  Spoke with a nice guy there but he wasn't willing to help either.  He stated that company policy wouldn't allow him to take the lates away.

 

I have two loans with them.  One from 2008 that is paid off/closed/paid as agreed and has 9 lates at 30 days and my current loan has 6 lates of 30 days.

Message 3 of 4
daihashi
Valued Member

Re: Santander and Citimortgage - Advice?

Bummer, but confirms what I've read/heard about them. Guess I'll try the dispute route and hope they simply don't respond.
In the garden since: 11/12/2015
Starting Scores (11/13/2015): EQ 665 | TU 671 | EX 663
Current Scores (06/25/2016): EQ 690 | TU 711 | EX 700
Goal Score:
720 across all 3 by 07/2016

>

Message 4 of 4
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