11yo Mortgage TL GONE!!!

01mommy · ‎05-22-2012

I disputed the lates on my mortgage and they responded by removing the entire TL on Experian and TU! Besides my student loans, my mortage was one of my oldest accounts at 11 years...could this be a bad thing? My EQ (myFICO) and EX (FAKO) are on a steady rise due to some other things falling off and I won't get the myFICO TU score until early July (Quarterly Monitoring) so I'm wondering should I leave it be or contact the mortgage company and risk them not deleting the lates from before I modified the loan? Any feedback is greatly appreciated!

Starting Score: 564 on 3/15/12
Current Score: 665 on 7/14/12
Goal Score: 675 by 9/12

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pizzadude · ‎05-22-2012

Accounts usually age off your reports when they are approaching 10 years from date of closing, so it's possible that this account was due to drop anyway and your dispute just triggered it to fall off. When was this account closed ? What was your AAoA before losing this account ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

01mommy · ‎05-22-2012

@pizzadude wrote:

Accounts usually age off your reports when they are approaching 10 years from date of closing, so it's possible that this account was due to drop anyway and your dispute just triggered it to fall off. When was this account closed ? What was your AAoA before losing this account ?

Are you saying mortgages don't report for the life of the note? The account is still open, I just had my loan modified and I was trying to get them to remove the lates from before the modification since it was technically a "new" mortgage. My AAoA was 7 years prior to them dropping off...I'm waiting until July to pull my other Power Score, so I don't know what or of it's changed, but my score doesn't appear to be hurting by it...now anyway

Starting Score: 564 on 3/15/12
Current Score: 665 on 7/14/12
Goal Score: 675 by 9/12

Take the FICO Fitness Challenge

llecs · ‎05-22-2012

If open now, there's a chance it can re-report next reporting cycle.

pizzadude · ‎05-22-2012

@01mommy wrote:
Are you saying mortgages don't report for the life of the note? The account is still open, I just had my loan modified and I was trying to get them to remove the lates from before the modification since it was technically a "new" mortgage. My AAoA was 7 years prior to them dropping off...I'm waiting until July to pull my other Power Score, so I don't know what or of it's changed, but my score doesn't appear to be hurting by it...now anyway

I was assuming that the mortgage was closed. If it is still open then yes, it would still be reporting ~ items typically drop from your report at 10 years from the date they are closed.

Your creditor will likely report the mortgage again next month, so hopefully it will reappear. This is one of the problems with disputing ~ sometimes the account will just be deleted by the CRAs.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

AndySoCal · ‎05-22-2012

I would be careful in persuing the remvoing of the lates on your modified home loan. They can report old mortgage as closed with a zero balance and leave the late histroy alone. Then reported the modifed loan as adifferent account with only the payment history of themodified loan. The second way will have a greater impact on your score in opinion than if you leave the lates alone/. How old are the lates.

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC 803 v8 EFX 807 (10/2023)
Discover 09/90 19,000, JCPenney 10/2008 4,700 US Bank Cash 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 15,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 Banking: Ally Bank Credit Unions: Lafayette FCU Fortera FCU State Department FCU Pelican CU

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01mommy · ‎05-22-2012

Several 30 60 90 day latest since 2003, and 120+ by the time of modification...

Starting Score: 564 on 3/15/12
Current Score: 665 on 7/14/12
Goal Score: 675 by 9/12

Take the FICO Fitness Challenge

Lel · ‎05-22-2012

@01mommy wrote:
@pizzadude wrote:

Accounts usually age off your reports when they are approaching 10 years from date of closing, so it's possible that this account was due to drop anyway and your dispute just triggered it to fall off. When was this account closed ? What was your AAoA before losing this account ?
Are you saying mortgages don't report for the life of the note? The account is still open, I just had my loan modified and I was trying to get them to remove the lates from before the modification since it was technically a "new" mortgage. My AAoA was 7 years prior to them dropping off...I'm waiting until July to pull my other Power Score, so I don't know what or of it's changed, but my score doesn't appear to be hurting by it...now anyway

Were you issued a new account number?

I don't follow the logic of disputing your prior late payments. Even if this were a closed account, there doesn't appear to be grounds to dispute the lates as inaccurate. Even if your modified loan is considered a "new" loan, it doesn't mean that the late payments didn't occur on the "old" loan.