Incorrect reporting by mortgage company...........

Anonymous · ‎01-09-2009

On one of my rental properties, the mortgage company incorrectly reported a 60 day late. My score dropped below 600 because of that. I have a letter from the mortgage company stating they made the mistake and would correct it. Has anyone gone through this before and if so how much should I expect me score to go up?

SCF · ‎01-09-2009

Hey teledega, welcome to the forums!

If that was your only derogatory entry on your reports, I think you should see a huge boost to your scores, maybe up to 100 points. I would expect your reports to be updated the next time your mortgage updates your regular payment to the CRAs. If it isn't at that time, another phone call may be in order.

Hope that helps!

Anonymous · ‎01-09-2009

I just want to add that if it's not fixed immediately, I would mail a copy of the letter, CMRR, to the disputes division of the credit bureaus with a demand for correction letter.