I'm so confused - was ready to dispute something that I know think is actually helping my scores!

[DeeDee642]

Hi,

I noticed that ever since a new company had taken over servicing my mortgage (B.O.A.) that my mortgage was being reported twice on two credit reports. Once by the old mortgage servicing company and again by the new company. Therefore, it looked like my outstanding mortgage debt was closer to $220,000 rather than $110,000. I thought for sure this would be a negative and was going to do some research and then dispute. Well, my scores just went up like they have never jumped before - in a positive direction. Could this be having a positive effect?

Thanks,

Janice

[bicknar]

Hi Dee Dee,

I'm guessing that this just happened recently?  My guess is that the first mortgage co. hasn't updated to a zero balance yet and for a short time it looks like you have tow positive accounts.  Not sure what the total mortgage amount was or what you owe on it now, but if you score went up, it may have been looking like your in great shape with two.   Enjoy it until the records are updated  

I had the same scenario on my reoport.  The first mortgage co. is now reporting a zero balance and satisfactorally closed, and the new one continues to report just normal.  Unfortunately I wasn't monitoring my scores during the trasnsion so I'm just guessing here.

Hope this helps,

A

[KeepSwimming]

Hi DeeDee,

I agree with the above poster. Your old mortgage company hasn't reported the account closed yet.

This happened with my car loan recently. I sold one car and got another, so it showed two open accounts for a month...in my case, it hurt me. Once Nissan (lender for the car I sold) updated that it was paid in full to a $0 balance, my score went up, but it took them about 45 days to do it.

[AndySoCal]

Is B.O.A. reporting the same open date as the original mortgage lender ?