05-03-2013 02:01 PM
My short sale closed in February 2013.
90 day late for Nov 2012
60 day late for Dec 2012
30 day late for Jan 2013
OK for Feb 2013
OK for Mar 2013
Account status is "120+ days late"
Account balance shows 0
Description says "Closed or paid account / zero balance" and "Account paid for less than full balance"
Shouldn't the account status be "closed" or something like that? I am not currently late, so I don't like it saying that I am.
And, why are they reporting for March when the sale closed in February?
This is on my equifax credit report. I have not pulled the others yet.
05-03-2013 02:10 PM
Ok, I just pulled Transunion.
This one says
30 days late Nov 12
60 days late Dec 12
90 days late Jan 13
90 days late Feb 13 (this shows up in 7 year account history, but not on the little green/red calendar, which stops at Jan 13)
And it's completely missing my payment history prior to April 2012 (I had a perfect history until November 2012)
The status says 120 days late and the description says "Settled - less than full balance"
Are these things I should be disputing (like missing payment history or the account status saying I am currently past due) or is this normal?
05-03-2013 09:35 PM
IMO, I wouldn't dispute. The only inaccuracy I see is the late placement for EQ. Seems like the lates are switched. 90 should be after the 30 but definitely don't have them fix that.
"120 days late" refers to the account wither having a 120-day late in the past or a status on par with a 120-day late (e.g. a charge-off, collection, settlement, etc.).
It's not uncommon for an OC to keep on reporting past the last action (short sale in this case).
Finally, ignore the "OKs" that are missing. Absent any lates, FICO and lenders assume it was current.
05-04-2013 07:12 PM
Split post to form a new thread within Understanding FICO Scoring