topic Re: Failure to provide good account info Credit Reporting agencies in Mortgage Loans

Failure to provide good account info Credit Reporting agencies

Anonymous — Sat, 11 Sep 2010 17:59:15 GMT

I along with my parents have been joint tenants of a California condo property

AND co-borrowers on the one and only mortgage for 18 years. The mortgage

payment history has been very good. The mortgage originated in Bank A, got

acquired by Bank B which then got acquired by the current Bank C. The property

tax bill comes in my name.

What's my issue? Within the last year both my parents passed away. In going

through the steps to transfer the property to my name as sole owner, I've uncovered

that I have no installment credit history in any of the 3 CRA's reports related to this

mortgage ?

Since '92, I've taken out 2 car loans (paid in full), and had several credit cards usually

with higher than normal interest rates.

Exit question? How pissed should I be?

Re: Failure to provide good account info Credit Reporting agencies

Lel — Sat, 11 Sep 2010 19:35:17 GMT

@Anonymous wrote:

I along with my parents have been joint tenants of a California condo property

AND co-borrowers on the one and only mortgage for 18 years. The mortgage

payment history has been very good. The mortgage originated in Bank A, got

acquired by Bank B which then got acquired by the current Bank C. The property

tax bill comes in my name.

What's my issue? Within the last year both my parents passed away. In going

through the steps to transfer the property to my name as sole owner, I've uncovered

that I have no installment credit history in any of the 3 CRA's reports related to this

mortgage ?

Since '92, I've taken out 2 car loans (paid in full), and had several credit cards usually

with higher than normal interest rates.

Exit question? How pissed should I be?

Is your definitely on the mortgage, and not just the deed to the house? I know you said co-borrower in your post, but I just wanted to be certain about this. The deed vs mortgage issue has been a source of confusion on these boards in the past.

Is bank C a major lender, or a small community bank? Some small lenders may not report to the credit bureaus at all.

Re: Failure to provide good account info Credit Reporting agencies

Anonymous — Sat, 11 Sep 2010 19:54:21 GMT

I'm looking at the original 1992 Mortgage note / federal disclosure documents from Bank A right now

showing me as borrower along with my parents. I basically helped my parents qualify for

the fixed rate loan.

The county recorder shows me as a joint tenant along with my parents on the Grant deed recorded

that same year.

The current Bank C is the most major of the major lenders!

Re: Failure to provide good account info Credit Reporting agencies

DallasLoanGuy — Sun, 12 Sep 2010 01:20:39 GMT

ask them to report on you?

Re: Failure to provide good account info Credit Reporting agencies

Anonymous — Sun, 12 Sep 2010 14:36:43 GMT

Do you have any upcoming plans to refinance the mortgage?

If so, that would pretty much guarantee that the mortgage will go back on your CRs, but it will be a new mortgage--not an old one.

I would write to the servicer and explain that you have sole custody of the house and send in copies of the death certificates to help support the claim (they should already have copies of these). It might be likely that news of your parents never made it back to the servicer so they're continuing to update their credit reports even though you own the house now.

Re: Failure to provide good account info Credit Reporting agencies

Anonymous — Sat, 09 Oct 2010 00:15:27 GMT

An update on the "My-name-has-been-missing-on-the-mortgage-I'm-a co-borrower-on-with my parents" case.

The current major bank C holding the mortgage has admitted that I was a co-borrower for 18 years.

Thanks alot for dropping my names bud !