Established Contributor
coterotie
Posts: 502
Registered: ‎11-30-2012
Re: Second Mortgage is "Non Mortgage Debt"?

Each of the three bureaus has our HELOC rated differently.  The weirdest one is TU which has it rated as an overdraft line of credit.  A 50K overdraft line of credit. None of the 3 bureaus have it listed as a mortgage even though it is the only thing resembling a mortgage that is on the report.  Of course the house associated with the line has been sold for nearly 7 years and we don't owe a balance.  But the tradeline is still on there, open and reporting a zero balance with payments made satisfactorily, so who am I to argue?

 

 

When I was a banker I once approved a $1,000,000+ overdraft but that is a different story.