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Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Rehabbed deletion effect

Hello my wife's rehab is complete and has been bought by suntrust. We just received a letter that it has been purchased and mdhe will contact all three credit agencies to have negative information to be deleted.
Two questions.
When will the new loan report?
When will the negative info be deleted and how big of an impact could she see? It's the only neg on her credit besides two very small old medical collections. The negative info is 60 and 90 day lates from late 2007-2008 about ten reported lates.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Frequent Contributor
Kathy4NU
Posts: 280
Registered: ‎07-09-2012
0

Re: Rehabbed deletion effect

Mine was deleted about the same time the loans were picked up.  Mine started reporting about 2 weeks after they were picked up (Great Lakes).

 

What are you wifes scores?  Mine jumped almost 100 when the negative trade lines were removed.  Now, Great Lakes is reporting only one trade line but the amount is equal to both loans.I had two trade lines - subbed and unsubbed.  I did not gain any new points when my loans started reporting with the new servicer.    This surprised me because it added on 8 years of perfect payments.  Go figure!




June '12: EQ 553 TU 0 EX 545
April '13 Lender Pull EQ 731, EX 692, TU 722 - all FICO

Closed on home May 22, 2013 at 2:00pm!!!
CU Visa $1000, VS $350, Chase Freedom $1000, Discover IT $2500, Home Depot: $2700, Menards $3000, NFM $3500
What's been deleted: 32 collections, 5 PR, 2 tax liens, defaulted student loans
Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Re: Rehabbed deletion effect

Currently suntrust picked it up in late January. Mohela is still reporting closed with a zero balance but all lates are still showing. In the letter said that negative info would be deleted. Also suntrust is not reporting.
I have the letter from mdhe stating the removal. Just wondering why they have not removed info and its mid march.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Community Leader<br> Valued Contributor</br>
Community Leader
Valued Contributor
SCF
Posts: 1,108
Registered: ‎06-09-2008
0

Re: Rehabbed deletion effect

It can take quite a while for reports to update.  Some student loan servicers only update accounts (especially closed ones) every 90 days.  I'd wait till around the 90 day mark, and then contact them to see if there is an issue.


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