I have owned a home equally with two other people for 10+ years. My name is last on the mortgage so it doesn't show up on my credit report. I'm assuming having it on my report would have some pros and cons. Would you suggest I contact my mortgage lender or just let it be?
If it's a positive tradeline that's 10+ years old I'd want it personally but score wise likely won't make much difference in a 30 year term... can always sort out the installment utilization bit with a share secure loan when talking FICO 8 and FICO 98 anyway, but having a mortgage on the report does look healthy to UW.
Are you trying to purchase a new home and worried about qualifying with both mortgages? Or are you just thinking about the score implications of the mortgage reporting vs. not reporting with no intention of buying a new home yourself?
I'm currenty not looking at purchasing a second home, but it is something I plan on in the next 5 years. I think I'm more concerned about the credit implications of not having the mortgage on my credit report. However the more I think about it, the benefit of having it on my report probably wouldn't make too big a difference right now.