I have a 2nd mortgage that was opened in 1988 and defaulted on in 1994 due to loss of income (my husband unemployment). The loan was never reported to any of the credit bureaus at the inception (1988) and the lender never foreclosed on us. My financial situation improved dramatically and I paid the loan up to date as of January 2011 and is continuing to remain current on this loan. I recently pulled my credit report and saw that the lender reported this loan (2nd mortgage) to the credit bureaus and included 2 late payments of 120 days.
Is this normal?
