TU reporting differently

Anonymous · ‎07-30-2008

I need to fix my status of a mortgage loan that was sold to another lender back in 2002...so this account should be closed.

TU shows:
Condition: Open
Balance: <blank>
Pay Status: <blank>
Opened: 04/01/2002
Reported: 04/01/2002

Ex shows:
Account Status: Closed
Date open: 04/2002
Balance: 0
Balance Date 6/2/2002

Eq shows:
Current Status: Pays as agreed
Balance: 0
DOLA: 04/2002
Comments: Closed or paid account zero balance

Since TU is the only one showing open, should I talk to TU about this or the original lender?

Thanks for any input!

llecs · ‎07-30-2008

I'd do nothing. Remember, it stays on for 10 yrs from date of closure. If reporting as open, you got a free ride for a longer credit history. And disputing it could cause it to disappear causing a score drop.

Message Edited by llecs on 07-30-2008 11:27 AM

Anonymous · ‎07-30-2008

Thanks...I guess there were 2 reasons for my concern on this:

1) Under the summary it has the amount of monthy PAYMENTS, and the amount from this mortgage is included in the amount...I don't know if anyone ever sees that number or cares, but it concerned me

2) I didn't know if having 2 open mortgages (since I do have my valid mortgage still) would be a positive, negative, or no effect on my scores.

llecs · ‎07-30-2008

skimpy wrote:
Thanks...I guess there were 2 reasons for my concern on this:

1) Under the summary it has the amount of monthy PAYMENTS, and the amount from this mortgage is included in the amount...I don't know if anyone ever sees that number or cares, but it concerned me

2) I didn't know if having 2 open mortgages (since I do have my valid mortgage still) would be a positive, negative, or no effect on my scores.

For #1 and #2, FICO doesn't care. In fact, your score will be higher in the long-run because of a longer and more established credit history. Under a manual review by a lender, I don't think #1 matters. Certainly doesn't matter for #2 (father-in-law has 4 open mortgages).