Re: Second Mortgage is "Non Mortgage Debt"?
10-28-2013 05:30 AM
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.