Hello-
I purchased my home in 2009. In 2013 I rented it out. Within 6 months the tenant stopped paying. I was unable to make the payment. The loan was moved to foreclosure. After nearly two years of going back and forth with Bank of America I was given a loan modification. It has been two months now and my scores still show past due 120+ days. How long does it typically take for then Bank to update the credit report?
I purchased my home in 2009. In 2013 I rented it out. Within 6 months the tenant stopped paying. I was unable to make the payment. The loan was moved to foreclosure. After nearly two years of going back and forth with Bank of America I was given a loan modification. It has been two months now and my scores still show past due 120+ days. How long does it typically take for then Bank to update the credit report?
Starting Score: 474
They typically fall off after 7 years, though I don't know if payment or modification can make a difference
Thank you for the reply. I wasn't clear in my post. I'm asking about the current reporting. How long does it take for the bank to update the payment history? I have over a year of on time payments now. The modification was made final 2/2017. Yet my credit shows 120 days past due - last updated 3/2016. That was prior to me getting the trial modification.
